Banks have given Rs 6 lakh crore Mudra loans to 12 crore beneficiaries: PM Modi

New Delhi, Delhi, IndiaUpdated: May 29, 2018, 12:05 PM IST

File photo of Prime Minister Narendra Modi. Photograph:(Zee News Network)

As part of government's scheme of funding the unfunded, Prime Minister Narendra Modi today said banks and financial institutions have given Rs 6 lakh crore to 12 crore beneficiaries.

"Out of the 12 crore beneficiaries, 28 per cent or 3.25 crore are first-time entrepreneurs," he said in his interaction with beneficiaries of this scheme.

He also said 74 per cent or 9 crore, borrowers are women and 55 per cent belong to the SC/ST and OBC category.

Pradhan Mantri Mudra Yojana (PMMY) was launched by the Prime Minister on April 8, 2015, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.