The Centre claimed that since the Pradhan Mantri Mudra Yojana’s (PMMY) launch, banks, Micro Finance Institutions (MFIs), and Non-Banking Financial Companies (NBFCs) have sanctioned more than Rs 28.68 crore loans for an amount of Rs 14.96 lakh crore.
Today, the Ministry of Finance issued a statement where it has been said that according to a Ministry of Labour and Employment conducted survey, from 2015 to 2018, 1.12 crore of the estimated increase in employment were generated due to the Pradhan Mantri Mudra Yojana (PMMY). Out of the 1.12 crore employment, 96 lakh that is 62% of them were women.
The statement said, “Ministry of Finance is committed to providing financial inclusiveness and support to the marginalized and hitherto socio-economically neglected classes.” It further stated that through multiple initiatives, the financial requirements of all stakeholders, from the hard-working farmers to the budding entrepreneurs have also been catered.
The statement added that the key initiative of PMMY has given wings to the aspirations and dreams of millions, along with a feeling of independence and self-worth.
On 8th April of 2015, Prime Minister Narendra Modi launched the PMMY for providing loans up to Rs 10 lakh to non-corporate, micro-enterprises, or non-farm small.