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Mudra loans 2024 update
November 1 , 2024
23 days
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- The government doubled the limit of Mudra loan amount under the Pradhan Mantri Mudra Yojana (PMMY) to promote entrepreneurship in the country.
- It was hiked to Rs 20 lakh from Rs 10 lakh under a new ‘Tarun Plus’ category.
- It was launched on April 8, 2015 to facilitate easy, collateral-free micro-credit of up to ₹10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities.
- 66.8 million loans were sanctioned under PMMY in 2023-24, amounting to Rs 5.4 trillion.
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