Under which banks and non-banking financial companies

Solution

PM Mudra Yojana was launched in April 2015, under which banks and non-banking financial companies provide credit up to Rs 10 lakh for entrepreneurial activities to small business units, including for new enterprises in sectors such as manufacturing, trading, services and activities allied to agriculture. Rs 36,578 crore loans were sanctioned to 5.4 million borrowers under the PM Mudra Yojana (PMMY) in the first two months of the financial year. Of this, Rs 35,598 crore was disbursed to borrowers of all three categories-Shishu, Kishore and Tarun. A total of Rs 19.22 trillion loans have been sanctioned to 353 million borrowers under the Mudra scheme in seven years since its inception.