SME Times News Bureau | 20 Dec, 2021
Pradhan Mantri Mudra Yojana (PMMY), institutional credit up to Rs. 10
lakh is provided by Member Lending Institutions (MLIs) to micro/small
entrepreneurs, including Women, for income generating activities in
sectors such as manufacturing, trading, services and activities allied
Share of women entrepreneurs under the scheme as per number of accounts stands at 68 %.
This was stated by Union Minister of State for Finance
Dr Bhagwat Kisanrao Karad in written reply to a question in Lok Sabha.
Minster stated that the Government allocates annual targets for the
amount to be sanctioned under PMMY to MLIs i.e. Scheduled Commercial
Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial
Companies (NBFCs) and Micro Finance Institutions (MFIs).
For the current
financial year (FY), a target of sanction of Rs. 3 lakh crore has been
fixed for MLIs. State/UT-wise and Gender-wise targets are not allocated
by Government under PMMY.
more details, the Minister stated that loans under the Scheme are
extended by MLIs as per their commercial parameters, based on their
Board-approved policy and extant Reserve Bank of India (RBI) guidelines
which, inter-alia includes, viability of project, assessment of
repayment capacity of the borrower etc.
Any complaints received in
respect of implementation of PMMY, including turning down of loan
applications, are redressed in coordination with the respective banks.