Prime Minister Narendra Modi on Friday said the ‘Pradhan Mantri Mudra Yojana’ has given an opportunity to countless Indians to showcase their entrepreneurial skills.
“Guided by the principle of Funding The Unfunded, Mudra Yojana has given an opportunity to countless Indians to showcase their entrepreneurial skills and become job creators,” PM Modi said in a tweet.
“As we mark 7 Years Of PMMY here is how it’s been a game-changer and enhanced dignity as well as prosperity,” he added.
Pradhan Mantri Jan Dhan Yojana has been a game-changer: Modi
Under the Pradhan Mantri Mudra Yojana, the Government allocates annual targets for the amount to be sanctioned by more than 150 Member Lending Institutions (MLIs). The MLIs, in turn, fix their respective state-wise target according to the potential of the area, their presence, and other related parameters.
Under the scheme, institutional credit up to Rs 10 lakh is provided by MLIs to micro/small business units for income-generating activities in manufacturing, trading, services sectors and also for activities allied to agriculture.