India

Govt Decides to Organise Mega Credit Camps Across the Country

The Banking sector has been allocated an overall disbursement target of Rs. 1,22,188 crore during 2015-16 for MUDRA loans. The banks have already disbursed Rs.15,566 crore as on 17.8.2015 to more than 20 lakh borrowers under Pradhan Mantri MUDRA Yojana (PMMY) in the country.

Meanwhile, it has been decided to organise Mega credit camps across the country between 25th September, 2015 and 2nd October, 2015 for PMMY Loans so that maximum number of borrowers could get credit as per their requirement under three categories of loans, viz. ‘Shishu’ for loans upto Rs. 50,000, ‘Kishore’ for loans above Rs.50,000 and upto Rs. 5 lakhs and ‘Tarun’ for loans above Rs. 5.0 lakhs and upto Rs. 10.0 lakhs. In lending, priority will be given to SCs/STs enterprises.

 

Notably, the Government of India had launched Micro Units Development and Refinance Agency (MUDRA) and Pradhan Mantri MUDRA Yojana (PMMY) on 8th April, 2015 for funding around 5.77 crore unfunded micro units/segments operating in the country. 62% of these units are owned by SCs/STs/OBCs.

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