1 hr ago
Sitharaman Says MUDRA Yojana Empowers Indians To Build Businesses
The PM MUDRA Yojana helps people borrow money to start or grow small businesses.
These loans do not require borrowers to provide collateral.
Finance Minister Nirmala Sitharaman said the program shows trust in people’s ability to become entrepreneurs.
The government launched it in 2015 after expanding access to bank accounts through the Jan Dhan Yojana.
More than 57.79 crore loans have been approved under the program.
The total amount given through these loans is ₹40.07 lakh crore.
People who repay their loans on time may qualify for larger loans later.
Sitharaman said the program has helped many people become financially independent and join the formal banking system.
Finance Minister Nirmala Sitharaman said PM MUDRA Yojana reflects the government’s trust in Indians’ entrepreneurial potential.
The scheme provides collateral-free loans to micro and small entrepreneurs who struggled to access institutional finance.
More than 57.79 crore loans have been sanctioned since the scheme launched on April 8, 2015.
Cumulative loan disbursements under the scheme have reached ₹40.07 lakh crore.
Around 12.15 crore loans worth ₹12 lakh crore went to first-time entrepreneurs, according to Sitharaman.
- Who
- Finance Minister Nirmala Sitharaman, PM MUDRA Yojana beneficiaries, and the Government of India.
- What
- Sitharaman highlighted the PM MUDRA Yojana’s role in providing collateral-free loans and supporting small entrepreneurs.
- Where
- New Delhi, India.
- When
- The scheme was launched on April 8, 2015; the remarks were made during an interaction in New Delhi.
- Why
- The scheme was created to provide formal finance to micro and small entrepreneurs and support new businesses.
Key facts
- Scheme
- Pradhan Mantri MUDRA Yojana
- Launch date
- April 8, 2015
- Loans sanctioned
- More than 57.79 crore
- Cumulative disbursements
- ₹40.07 lakh crore
- First-time entrepreneur loans
- Around 12.15 crore loans worth ₹12 lakh crore
- Loan feature
- Collateral-free credit for micro and small entrepreneurs
- Earlier initiative
- Pradhan Mantri Jan Dhan Yojana expanded access to bank accounts in 2014
Sources
Related news
Modi Highlights Jan Dhan Yojana’s Transformative Financial Inclusion Impact
Mudra Loans Up To ₹20 Lakh: Categories, Eligibility And Application
PM Jan Dhan Yojana Turns 12 With 59 Crore Accounts
Jan Dhan Yojana Expands India’s Financial Inclusion After Twelve Years
Modi Hails Jan Dhan Scheme’s Impact on India’s Banking Access
Modi Highlights Babita Sharma’s PM SVANidhi-Funded Business Transformation
India Tapped Overseas Indians After Rupee’s Record Fall
Chouhan Announces Roadmap To Modernise Agriculture Across Telangana
SEMICON India 2026 Shifts From Policy Toward Commercial Chip Production
India Flags China Trade Deficit as Bilateral Ties Stabilise
