Mudra Loans Help Poor People Become Entrepreneurs: Modi
Rs 33 lakh cr of collateral-free loans have been sanctioned in 10 yrs
Prime Minister Narendra Modi welcoming Sheikh Hamdan Bin Mohammed Al Maktoum, Crown Prince of Dubai, Deputy PM and Minister of Defence of UAE, in New Delhi on Tuesday
New Delhi: Prime Minister Narendra Modi on Tuesday said more than Rs33 lakh crore of collateral-free loans have been sanctioned under Mudra Yojana, empowering countless individuals to showcase their entrepreneurial skills.
Interacting with the select beneficiaries of the PM Mudra Yojana (PMMY) at his residence on the 10th anniversary of the scheme, he said it has helped promote the spirit of entrepreneurship among the youth of the country and given them confidence to become job providers rather than job seekers. With the objective of funding the unfunded, Prime Minister Modi on April 8, 2015, launched PMMY to provide collateral-free institutional credit through Member Lending Institutions.
