Key Points
Banks and other financial institutions have granted loans worth 23.2 lakh crore to over 408.2 million beneficiaries of the Pradhan Mantri Mudra Yojana (PMMY), launched in 2015, according to India's Finance Minister, Nirmala Sitharaman..
Since 2015, PMMY has generated significant employment opportunities and proved to be a boost for the Indian economy, whilst empowering women entrepreneurs, Sitharaman said.ReutersNirmala.
"Growth of MSMEs (micro, small and medium enterprises) has contributed massively to the Make in India programme, as strong domestic MSMEs lead to increased indigenous production both for domestic markets as well as for exports," finance minister Nirmala Sitharaman said on Saturday...
PMMY was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free microcredit of up to 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities...
Loans under the scheme are provided by member lending institutions - banks, non-banking financial companies, microfinance institutions and other financial intermediaries - the finance ministry said in a statement on Saturday...
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