Since the Mudra Yojana’s debut in 2015, banks and financial institutions have approved Rs 23.2 lakh crore for distribution to over 40.82 crore beneficiaries. The Pradhan Mantri On April 8, 2015, Prime Minister Narendra Modi introduced the MUDRA Yojana (PMMY), which enables simple collateral-free microcredit of up to Rs 10 lakh to non-corporate, non-farm small, and microentrepreneurs for income-generating activities. According to a statement released by the finance ministry on Saturday, Member Lending Institutions (MLIs), which include banks, non-banking financial institutions (NBFCs), microfinance institutions (MFIs), and other financial intermediaries, issue loans under the PMMY programme.
Banks grant around 41 crore beneficiaries of the Mudra Yojana a total of Rs. 23,2 lakh crore
