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TMI BlogOver 32.11 crore loans of 17 lakh crore with disbursement of 16.50 lakh crore extended under Pradhan Mantri Mudra YojanaX X X X Extracts X X X X X X X X Extracts X X X X ..... Over 32.11 crore loans of 17 lakh crore with disbursement of 16.50 lakh crore extended under Pradhan Mantri Mudra Yojana X X X X Extracts X X X X X X X X Extracts X X X X ..... been extended under Pradhan Mantri Mudra Yojana (PMMY), since its inception in April, 2015. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today. The Minister stated that year-wise details of loans provided under different categories of PMMY viz. Shishu (loans up to ₹ 50,000), Kishore (loans from ₹ 50,00 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 to ₹ 5 lakh) and Tarun (loans from ₹ 5 lakh to ₹ 10 lakh) are ANNEXED. Listing out a number of studies undertaken to evaluate the impact of PMMY, the Minister stated :- * An independent assessment of PMMY was undertaken by '"MicroSave", a financial inclusion consulting firm in 2016-17. The key findings, inter-alia, include:- * No requirement of a guarantor or collateral, s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imple documentation and quick processing, and proactive approach of lenders make PMMY loans attractive to borrowers; * PMMY loans have helped borrowers to enhance scope and profit of business; and * Shishu loans have helped to unlock the business potential of small shop owners and vendors by meeting their working capital requirement. * IFMR Finance Foundation (IFF) also conducted a study in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016-17 to understand the impact of PMMY. The key findings of the study, inter-alia, are: * PMMY has led to significant growth in bank credit to MSMEs, particularly loans below ₹ 2 lakh. Micro Finance Institutions (MFIs) are working with banks to increase reach of loans below ₹ 2 lakh; * Average size of loans given by banks in Shishu category has increased significantly (about 50%) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in 2016-17. Data suggests that existing clients are likely to get larger loans. For MFIs, increase in loan size in Kishore category has been observed; * PSBs and RRBs have better awareness of key features of PMMY loans; and * Banks have significantly liberalised criteria to reach out to more borrowers. * Ministry of Labour and Employment (MoLE) has conducted a large sample survey at the nat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional level to estimate employment generation under PMMY. As per the survey results, PMMY helped in generation of 1.12 crore net additional employment during a period of approximately 3 years (i.e. from 2015 to 2018). At an overall level, Shishu category of loan has about 66% of share among additional employment generated by establishments owned by MUDRA beneficiaries followed by Kishore (19%) and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tarun (15%) categories respectively. X X X X Extracts X X X X X X X X Extracts X X X X
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