ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 19 April. Click Here for more information.
ForumIAS Answer Writing Focus Group (AWFG) for Mains 2024 commencing from 24th June 2024. The Entrance Test for the program will be held on 28th April 2024 at 9 AM. To know more about the program visit: https://forumias.com/blog/awfg2024
- Banks have been struggling to meet the target for lending Mudra loans. The government, in Budget 2018-19, had said it intends to disburse loans of up to Rs 3 lakh crore in the current fiscal. However, as on February 22, the total loan disbursed under the Micro Units Development and Refinance Agency Ltd (Mudra) scheme stood at about 2 lakh crore.
- Pradhan Mantri MUDRA Yojana (PMMY) was launched in 2015. It seeks to extend affordable credit to micro and small enterprises. Loans up to Rs.10 lakh are extended to non-corporate, non-farm enterprises. These loans are classified as MUDRA loans.
- Loans under Mudra are given under different categories viz. ‘Shishu’, ‘Kishor’ and ‘Tarun’. These categories are based on the stage of growth or development and funding needs of the beneficiary.
- Sishu covers loans up to Rs. 50,000. Kishore covers loans above Rs. 50,000- and up to 5 lakh. Tarun covers loans above Rs. 5 lakh and up to Rs.10 lakh
