About 41 cr loans worth Rs 23 lakh cr sanctioned under MUDRA scheme since inception: FM

New Delhi [India], April 8 (ANI): Union Finance Minister Nirmala Sitharaman on Saturday said an amount of “Rs 23.2 lakh crore had been sanctioned in 40.82 crore loan accounts” till March 24 under the Pradhan Mantri MUDRA Yojana (PMMY) since its inception.

According to a statement from the Ministry of Finance, the loans under PMMY are provided by member lending institutions (MLIs), which are banks, non-banking financial companies (NBFCs), micro finance institutions (MFIs) and other financial intermediaries.
Highlighting indigenous growth through micro, small, and medium enterprises (MSMEs), the minister said, "The growth of MSMEs has contributed massively to the 'Make in India' programme as strong domestic MSMEs lead to increased indigenous production both for domestic markets as well as for exports."

He said the government policy of promoting MUDRA led millions of MSME enterprises in the formal economy and helped them to get out of the clutches of money-lenders offering very high cost funds.