69% of the total 44.46 crore loans sanctioned under Pradhan Mantri Mudra Yojana, have been sanctioned to women
- Press Information Bureau
- December 19, 2023
As of November 24, 2023, out of a total of 44.46 crore loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY), 30.64 crore (69%) have been approved for women. Similarly, under Stand-up India (SUPI), as of the same date, out of 2.09 lakh loans sanctioned, 1.77 lakh (84%) have been granted to women entrepreneurs.
Enhanced access to credit plays a pivotal role in influencing the socio-economic growth of various sections of society. Launched on April 8, 2015, PMMY aims to provide collateral-free institutional credit to small/micro enterprises for income-generating activities. The SUPI scheme, initiated on April 5, 2016, promotes entrepreneurship among women and SC/ST communities by providing loans for establishing greenfield enterprises. The upliftment of women is a major focus of these schemes.
Micro-credit through PMMY has not only encouraged female entrepreneurship but has also increased earnings and employability, empowering women financially, socially, and psychologically. SUPI, by allocating targets to provide loans to women and SC/ST entrepreneurs, has incentivized lenders to finance greenfield projects for women entrepreneurs, contributing significantly to the promotion of women-led enterprises.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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