9 crore people given loans of Rs 4 lakh crore under Mudra scheme: Rajyavardhan Rathore

Union Minister Rajyavardhan Singh Rathore termed Mudra scheme as the world’s largest financial inclusion campaign

Published: 13th October 2017 05:34 PM  |   Last Updated: 13th October 2017 06:39 PM   |  A+A-

Rajyavardhan Singh Rathore (Photo | PTI )

By PTI

JAIPUR: Terming Mudra scheme as the world’s largest financial inclusion campaign, Union Minister Rajyavardhan Singh Rathore today said so far nine crore people have been given loans of Rs 4 lakh crore under the initiative.

The number of beneficiaries under the scheme is more than the population of several countries, the Minister of State for Information and Broadcasting told reporters here after participating in the Mudra Yojana promotion campaign.

He said that of the total nine crore beneficiaries under the scheme, 80 per cent are women and 55 per cent from OBC, SC and ST categories.

The Union minister said that in the current financial year, government targets to give loans worth Rs 2.04 lakh crore.

He said that banks have been directed to give loans to SC, ST and women and give reason if the loan application is refused.

The Pradhan Mantri Mudra Yojana (PMMY) provides access to institutional finance to the under-funded sections of the society.

Hailing the Narendra Modi-led BJP government, Rathore said that India stands on top in terms of capital expenditure in the world, which will lead to employment generation.

He said the government has taken various decisions, including skill development, financial inclusion of marginalised society and curbing corruption that are in the better interest of the country.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.