Pradhan Mantri Mudra Yojana tops target for 2016-17, loans cross target of Rs 1.8 lakh crore

Loans extended under the Pradhan Mantri Mudra Yojana (PMMY) during 2016-17 have crossed the target of Rs 1,80,000 crore for 2016-17.

Sanctions currently stand at Rs 1,80,087 crore with final data still awaited from some of the smaller non-banking lenders. The Union Budget has announced a target of Rs. 2.44 lakh crore for Mudra Loans during 2017-18. There would be a special focus within the Mudra Scheme on convergence with other government schemes, deepening connect with borrowers and meeting credit requirements of trainees completing skilling course.

    Takeaways from above News-
    • Pradhan Mantri Mudra Yojana tops target for 2016-17, loans cross target of Rs 1.8 lakh crore
    • Pradhan Mantri Mudra Yojana (PMMY) was launched on 8th April 2015 by PM Narendra Modi

    If you have any other takeaways, do share with us in the comment section
    Source- Financial Express
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