INR 1.22 lakh crore taken out for loan disbursement under PMMY
Q. What amount has been fixed by the government as a target of loan disbursement under Pradhan Mantri MUDRA Yojana (PMMY) to small business units during the current fiscal?- Published on 31 Aug 15a. 1.22 Lakh Crore
b. 3.65 Thousand Crore
c. 500 Crore
d. 980 Crore
ANSWER: 1.22 Lakh Crore
A Finance Ministry statement said that the banking sector has been allocated an overall disbursement target of Rs 1,22,188 crore during 2015-16 for MUDRA loans and the banks have already disbursed Rs 15,566 crore as on August 17 to more than 20 lakh borrowers under PMMY. The statement said, while lending, priority will be given to SCs/STs enterprises.
The PMMY provide loans between Rs 50,000-Rs 10 lakh to small entrepreneurs. The Micro Units Development and Refinance Agency Ltd , MUDRA, launched by the Prime Minister Narendra Modi in April this year, focuses on the over 5 crore self-employed who use funds of Rs 11 lakh crore and provide jobs to 12 crore people.
