22. Pradhan Mantri MUDRA Yojana
The Modi government has set up the MUDRA (Micro Units Development & Refinance Agency Ltd. ) which aims to provide financial assistance to theMicro Small and Medium Enterprises (MSME) for their activities in the non-farm and non-corporate sector. The Pradhan Mantri MUDRA Yojana (PMMY), however, provides funding to the organizations whose credit needs fall below ₹10 Lakh. In financial year 2021-2022 a total of 49821425 loans were sanctioned which in total made up to Rs 319214 crore out of which 311505 has been disimbursed.
Under this scheme, there are three stages which marks the funding needs and growth of the beneficiary organization in the question. These are:
Shishu: This covers loans less than ₹50,000
Kishore: This covers loans more than ₹50,000 and less than ₹5,00,000
Tarun: This covers loans more than ₹5,00,000 and less than ₹10,00,000
Under this scheme, eligible business segments include food-service units, fruits/vegetable vendors, service sector units, truck operators, machine operators, food processors, repair shops, small industries, and more.
