New Delhi, April 1: The Prime Minister Mudra Yojana (PMMY), launched in April 2015, has approved over 52.37 crore loans to date, distributing a total of ₹33.65 lakh crore, according to an official fact sheet.
The fact sheet reveals that approximately 70% of these loans have been granted to women entrepreneurs, while nearly 50% have benefited Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC).
In terms of loan categories, the ‘Shishu’ category has received the highest share, accounting for 78% of the total loans, although they represent only 36% in terms of loan amount. The ‘Shishu’ category includes loans up to ₹50,000.
The ‘Kishore’ category, which includes loans ranging from ₹50,000 to ₹5 lakh, constitutes 20% of the total loans but holds a 40% share in terms of amount. Meanwhile, the ‘Tarun’ category, which offers loans between ₹5 lakh and ₹10 lakh, accounts for only 2% of the total loans but contributes 24% to the total amount.
Additionally, a ‘Tarun Plus’ scheme has been introduced for those who have successfully repaid loans under the Tarun category, allowing for loans ranging from ₹10 lakh to ₹20 lakh. This will also include guarantee coverage through the Credit Guarantee Fund for Micro Units (CGFMU), providing further support to entrepreneurs.
The scheme aims to promote small businesses, covering sectors such as manufacturing, trading, services, and agriculture-related activities like poultry, dairy, and beekeeping. It addresses both term loan and working capital needs.
To enhance support for entrepreneurs, Finance Minister Nirmala Sitharaman announced an increase in the loan limit to ₹20 lakh in the budget presented on July 23, 2024, effective from October 24, 2024.
These loans are provided through banks, NBFCs, microfinance institutions, and other financial entities, fostering the growth of small businesses across the country.