Finance Ministry Ties Up With 40 Entities Under Mudra Scheme

The Finance Ministry of India has tied up with 40 organizations including Patanjali, Flipkart and Amul which are the huge job recruiters for extending loans to small businessmen under the Mudra Scheme. In order to figure out the people who should be provided with the loan under Pradhan Mantri Mudra Yojana (PMMY), the ministry organized an event in Mumbai to extend loans under this scheme.

This initiative tried to reach out to those people who have not approached the bank for loans but want to start their own business. Other companies which have tied up with the finance ministry also include Make My Trip, Zomato, Meru Cab, Muthoot Finance, Edelweiss, Amazon, OLA, Big Basket, Carz on rent and Jawed Habib Salon. The last fiscal which was extended by the government was of Rs. 2.53 lakh crore credit under the Mudra Scheme whereas Rs. 5.73 crore has been extended in last 3 years. Pradhan Mantri Mudra Yojana was launched by Prime Minister Narendra Modi on 8^th April, 2015 so that they can provide loans of upto Rs. 10 Lakh to small and micro enterprises. The focus of the seminar was to create job opportunities and instil the sense of business, to facilitate people to think like a job creator instead of job seeker. Apart from that CEO’s of various financial firms like SBI, ICICI, BOB, PNB and senior officials like MD, CEO, CFO from various Oil companies and Railway Board were also a part of the event.

By: Swati Kaushal

Content: https://timesofindia.indiatimes.com/business/india-business/finance-ministry-ties-up-with-40-entities-to-extend-funding-under-mudra-scheme/articleshow/64260757.cms