The Finance Ministry has informed that over 37.76 crore loans are disbursed since the inception of the Pradhan Mantri Mudra Yojana (PMMY) in April 2015. It said that the loan amounts to over 20.43 lakh crore rupees as of 25th November 2022. Referring to a Labour and Employment Ministry survey, the Finance Ministry also stated that in three years between 2015 and 2018, PMMY helped in generating 1.12 crore net additional employment.
Under PMMY, collateral-free institutional credit up to Rs. 10 lakh is provided by Member Lending Institutions (MLIs) to eligible individuals with a business plan for small business enterprises.
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