Banks have given Rs 6 lakh Cr Mudra loans to 12 Cr beneficiaries: PM Modi

New Delhi: As part of government’s scheme of funding the unfunded, Prime Minister Narendra Modi said on Tuesday banks and financial institutions have given Rs 6 lakh crore to 12 crore beneficiaries.

Interacting with Mudra beneficiaries from across the country through a video conference, the Prime Minister said that under the loan melas, which were organised with great fanfare, loans were provided to selected persons and no one bothered about their repayment.

“Out of the 12 crore beneficiaries, 28 per cent or 3.25 crore are first-time entrepreneurs,” he said in his interaction with beneficiaries of this scheme.

He also said 74 per cent, or 9 crore, borrowers are women and 55 per cent belong to the SC/ST and OBC category.

Pradhan Mantri Mudra Yojana (PMMY) was launched by the Prime Minister on April 8, 2015, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.