Banks sanction Rs 23.2 lakh crore to about 41 crore beneficiaries under Mudra Yojana

Banks and financial institutions have provided Rs 23.2 lakh crore to over 40.82 crore beneficiaries under India's Mudra Yojana. The scheme was launched in April 2015 to provide easy collateral-free micro-credit to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities. Member Lending Institutions (MLIs) such as banks, non-banking financial companies (NBFCs), microfinance institutions and other intermediaries provide the loans.

from Banking/Finance-Industry-Economic Times https://ift.tt/tAMKYR8