MUDRA LOANS : BUDGET 2024-25: NEW PHASE FOR SMALL BUSINESSES
What is the Pradhan Mantri Mudra Yojana (PMMY)?
• The PMMY is a government scheme aimed at providing loans to small and micro-enterprises to help them grow their businesses.
What are the categories of Mudra loans?
• Shishu: Loans up to ₹50,000
• Kishore: Loans above ₹50,000 and up to ₹5 lakh
• Tarun: Loans above ₹5 lakh and up to ₹10 lakh (recently increased to ₹20 lakh)
What changes were announced in the recent Union Budget?
• The loan limit for the Tarun category has been doubled from ₹10 lakh to ₹20 lakh for entrepreneurs who have repaid previous loans.
Who benefits the most from Mudra loans?
• Women entrepreneurs, who make up 70% of the beneficiaries, benefit significantly from Mudra loans.
How has the Mudra loan disbursement performed recently?
• In the first quarter of FY25, disbursals crossed ₹1 lakh crore, compared to ₹81,957 crore in the same period the previous year. In FY24, disbursals surpassed ₹5 lakh crore, marking a record growth.
How much has been disbursed under the Mudra scheme since its launch?
• Since its launch in 2015, Mudra loans exceeding ₹30 lakh crore have been disbursed.
Which states lead in Mudra loan disbursals?
• Uttar Pradesh, Bihar, and Tamil Nadu currently lead in Mudra loan disbursals.
Which banks are the leading disbursers of Mudra loans?
• Public-sector banks like State Bank of India, Punjab National Bank, and Canara Bank have the largest share of Mudra loan disbursements.
What factors drive the growth of Mudra loans?
• Public-sector banks’ active promotion and follow-up on loan utilization, as well as the guarantee from the National Credit Guarantee Trustee Company Ltd. (NCGTC), boost lender confidence and drive loan growth.
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