Pradhan Mantri Mudra Yojana (PMMY) has approved more than 52.37 crore loans, totaling Rs. 33.65 lakh crore, since its inception in April 2015. The official data reveals that around 70% of these loans were granted to women entrepreneurs, with about 50% benefiting borrowers from Scheduled Caste, Scheduled Tribe, and Other Backward Classes.
A detailed breakdown by category shows that Shishu loans, covering amounts up to Rs. 50,000, constituted 78% of the total number of loans and 36% of the sanctioned amount. Kishor loans, ranging from above Rs. 50,000 to Rs. 5 lakh, accounted for 20% of the loans and 40% of the disbursed sum.
Tarun loans, exceeding Rs. 5 lakh up to Rs. 10 lakh, made up 2% of the loans and 24% of the disbursed amount. Tarun Plus, a specialized category for successful Tarun borrowers seeking loans between Rs. 10 lakh and Rs. 20 lakh, will now be backed by the Credit Guarantee Fund for Micro Units (CGFMU) to bolster India’s entrepreneurial landscape.
Pradhan Mantri Mudra Yojana (PMMY) was introduced to support small business ventures in various sectors, including agriculture-related activities like poultry and dairy. Both term loans and working capital needs are catered to under this scheme. In a bid to further empower budding entrepreneurs, the Finance Minister raised the loan ceiling to Rs. 20 lakh during the Union Budget 2024-25 on July 23, 2024, effective from October 24, 2024. These loans are facilitated through Banks, NBFCs, MFIs, and other financial institutions.
