Prime Minister Narendra Modi talking to Mudra loan beneficiaries at his residence on Tuesday in New Delhi.
Prime Minister Narendra Modi said on Tuesday that the youth of the country have helped to promote the sense of entrepreneurship and they have got the confidence to become a job provider rather than job seekers. According to PTI news, on the 10th anniversary of the scheme, he said that under the Mudra scheme, bail-free loans of more than Rs 33 lakh crore have been approved. This has given countless persons the right to demonstrate their entrepreneurship skills. PM Modi said this in a conversation with selected beneficiaries of PM Mudra Yojana (PMMY) at his residence. Under PMMY, Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Bank (SFB), Non-Banking Financial Companies (NBFCs) and Microfinance Institutes (MFI) are provided bail-free loans up to Rs 20 lakh.
Appeal to inspire other people
According to the news, the Prime Minister urged the beneficiaries to inspire and support at least five to ten other people, to increase confidence and self -reliance. The PM said that it is especially encouraging that half of the currency beneficiaries belong to Scheduled Castes, Scheduled Tribes and Other Backward Classes, and more than 70 percent of the beneficiaries are women. Every currency loan brings with it respect, self-respect and opportunity. Apart from financial inclusion, this scheme has also ensured social inclusion and economic freedom.
Women applied for the most loan
The Prime Minister said that the maximum number of women have come forward under the Mudra Yojana. Women have applied for the most loans, have acquired the most loans and are also the fastest to repay them. The Prime Minister said that in the last 10 years, Rs 33 lakh crore has been distributed to citizens without any guarantee and this amount is unprecedented. The collectively is more than any financial assistance given to rich individuals. He expressed confidence in the talented youth of the country who have effectively used money to create employment and speed to the economy.
Scope of currency loan
The PM said that the Mudra loan was initially from Rs 50,000 to Rs 5 lakh, now it has reached Rs 20 lakh, the Prime Minister said that this expansion reflects the trust of the citizens of India in the sense of entrepreneurship and capabilities, which has strengthened through the successful implementation of the scheme. The Prime Minister also assured the beneficiaries that the government would review the scheme and take steps to improve it further.
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