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Mudra Loans worth Rs 36,578 Crore Approved to 5.4 Mn Borrowers in FY22

About Rs 36,578 crore loan was approved to 5.4 million borrowers under the PM Mudra Yojana (PMMY) in April-May. The loan has been disbursed to Shishu, Kishore, and Tarun in all three categories.

As per the record, the bank has approved about Rs 44,126 crore, out of which Rs 38,668 crore was disbursed.

Since April 2015, the Mudra scheme has been launched. Under this scheme, the borrowers have sanctioned 353 million borrowers in seven years. All banks and non-banking financial companies provide credit up to R 10 lakhs for small business units, including new sectors such as manufacturing, trading, services and activities. There are three categories of loans ‘Shishu’ (covering loans up to Rs 50,000), ‘Kishore’ (covering loans from Rs 50,000 to Rs 5 lakh), and ‘Tarun’ (covering loans from Rs 5 lakh to Rs 10 lakh).

The loan amount of Rs 19.22 trillion was sanctioned, Rs 8 trillion has been advanced to 302.5 million borrowers under the Shishu category; Rs 6.67 trillion to 44 million borrowers under the Kishore category; and Rs 4.51 trillion to 7 million borrowers falling under the Tarun category of loans.

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