Author(s): Rishikaysh Kaakandikar, Vikrant V. Nangare, Vikrant V. Nangare, Amruta Manoj Deshpande
Pradhan Mantri Mudra Yojana has been started to provide loans for businesses without guarantee. Three types of loans are provided under this scheme: Shishu Mudra Loan, Kishore Mudra Loan, and Tarun Mudra Loan. Loan up to 50000 is provided under Shishu Mudra Loan. Loans ranging from 50000 to 500000 are provided under Kishore Mudra Loan, and Mudra loan from 500000 to âÂ??¹ 1000000 is provided under Tarun Mudra Loan. PMMY was launched on 8th April 2015. So far in the last six years, loans worth Rs 14.96 lakh crore have been provided to 28.68 beneficiaries through Pradhan Mantri Mudra Loan Yojana. Between 2015 and 2018, about 1.12 crore additional jobs have been created through this scheme.Small business has been encouraged through this scheme.