MUDRA disburses loans of Rs 1.09 lakh cr in Y16

MUDRA

The Micro Units Development and Refinance Agency Ltd (MUDRA), which focuses on the 5.75 crore self-employed who deploy funds totaling Rs 11 lakh crore and provide jobs to 12 crore people, were given loans worth Rs 1.09 lakh crore in FY16. In a written reply to the Rajya Sabha, Minister of State for Finance Jayant Sinha said these loans were given to over 2.96 crore beneficiaries.

Under Pradhan Mantri MUDRA Yojana, which was launched in April 2015 year, loans between Rs 50,000 and Rs 10 lakh are provided to small entrepreneurs. The banking sector has been allocated an overall disbursement target of about Rs 1.22 lakh crore during 2015-16 for MUDRA loans.

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