MUDRA YOJANA
Nirmala Sitharaman reaffirms govt's fiscal discipline push, puts public debt target at 50% of GDP by 2030
FM Sitharaman linked the government's broader economic priorities -- fiscal consolidation, inflation management and currency stability -- with the need to expand employment and enterprise opportunities, particularly for women, through education, skill development and industry participation.
Cabinet clears way for Watsa's Fairfax's Rs 52,878 crore deal for 60.72% stake in IDBI Bank
Fairfax Financial Holdings will acquire a majority stake of 60.72% in IDBI Bank for ₹52,878 crore. This acquisition marks a significant moment in the government's divestment efforts, as it represents strategic restructuring. The deal aims to strengthen the banking ecosystem and support the government's disinvestment target for the fiscal year. IDBI Bank's financial position has improved significantly, with reduced non-performing assets.
Maharashtra CM Devendra Fadnavis expands drought-hit talukas to 305, announces ₹5,000 Diwali bonus for farmers
Maharashtra Chief Minister Devendra Fadnavis announced the expansion of the drought declaration to 305 talukas. A Diwali bonus of ₹5,000 will be deposited into farmers' accounts to alleviate financial distress. The government is also monitoring drinking water supply and combating severe water scarcity with GPS-tracked tankers. Fadnavis praised Prime Minister Narendra Modi for his contributions to infrastructure and welfare projects in Maharashtra.
Stocks in news: HCL Tech, RBL Bank, Nazara Tech, Hero Motors, Power Grid and IRCON
Indian stock markets struggled on Monday, as the Nifty 50 saw a considerable drop. The falls were attributed to increasing bond yields, consistent outflows from foreign institutional investors, and pervasive global concerns. Attention now shifts to forthcoming announcements from major players like HCL Technologies and RBL Bank, with quarterly earnings expected to influence investor outlook.
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Finmin asks pvt banks to increase participation in govt's financial inclusion schemes
The Finance Ministry on Tuesday asked private sector banks to step up participation in financial inclusion schemes, including PMMY and Stand Up India. Financial Services Secretary Sanjay Lohiya urged banks to support the upcoming saturation campaign, expand digital outreach, improve loan processing, strengthen insurance claim awareness and address grievances.
Finmin to meet heads of banks on Tuesday to review progress of financial inclusion scheme
A meeting involving bank heads is scheduled for Tuesday to assess the progress of financial inclusion schemes. Key initiatives include Pradhan Mantri Jan Dhan Yojana and Pradhan Mantri Mudra Yojana, which support small enterprises. Other schemes such as PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana offer insurance coverage for different age groups. The StandUp India Scheme focuses on empowering SC, ST, and women borrowers.
India's resilience built over past decade, structural autonomy key to future: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman on Saturday said India's economic resilience has been built consciously over the past decade through fiscal prudence, infrastructure creation, banking reforms, last-mile delivery and sustained reforms, while stressing the need for greater strategic autonomy and preparedness to deal with emerging global challenges.
FM Sitharaman asks banks to step up financial literacy efforts for MUDRA beneficiaries
Union Finance Minister Nirmala Sitharaman on Thursday asked banks providing loans under the PM MUDRA Yojana to step up financial literacy efforts across states to help small entrepreneurs expand their businesses and bring more people under the scheme.
Global Fintech Fest 2026: DFS Secretary Sanjay Lohiya unveils UPI credit for KCC, MUDRA borrowers
DFS Secretary Sanjay Lohiya at Global Fintech Fest 2026 unveiled a facility allowing eligible Kisan Credit Card and PM MUDRA Yojana borrowers to use sanctioned credit limits for merchant payments through UPI. The move could widen digital access to formal credit for farmers and small businesses, with more banks expected to join.
If you can end casteism, we are ready to give up reservation: Ramdas Athawale
Union minister Ramdas Athawale stated opposing reservation is unconstitutional and against the Constitution. He asserted that reservation will continue until casteism is eliminated from society. The minister highlighted government achievements and welfare schemes for various sections of people. He also mentioned the acceptance of a caste census demand by the Centre. Central investments in infrastructure will boost Chhattisgarh's connectivity and industrial activity.
PM Jan Dhan scheme marks 12 years, number of accounts crosses 59 cr with Rs 3.17 lakh cr deposits
The Pradhan Mantri Jan Dhan Yojana has completed twelve years of service. Over fifty-nine crore bank accounts now exist under this financial inclusion scheme. Deposits have reached a substantial three point seventeen lakh crore rupees. This initiative empowers millions by providing access to banking and financial services. The scheme has significantly transformed India's banking and financial landscape.
The 'trustworthy' changes in the lives of India's middle class
Digital payments and tax reforms have significantly altered middle-class spending habits. GST has streamlined consumption taxes, impacting everyday purchases and larger items. Real estate regulations offer homebuyers greater protection during significant financial commitments. JAM trinity and telecom reforms increased formal financial access for many citizens. Infrastructure upgrades and digital services have collectively saved valuable time and effort.
PM Mudra Yojana has redefined access to credit by empowering millions: Modi
Prime Minister Narendra Modi highlighted the PM Mudra Yojana's impact. The scheme has empowered millions by providing collateral-free credit. This initiative has reduced informal lending dependence and expanded financial inclusion. Over 52 crore job seekers have become business owners. Micro businesses are scaling, creating jobs and integrating informal enterprises into India's formal economy.
NPA against outstanding amount under Mudra Yojana rises to 9.8% in March 2025
The Pradhan Mantri Mudra Yojana (PMMY) scheme's NPA rate for Scheduled Commercial Banks has increased to 9.81% as of March 2025. Loans against gold jewellery have surged by 71.3% during December 2024, promoting financial inclusion, especially for rural and underserved segments. Government initiatives aim to support women borrowers and address factors influencing gold prices.
"Turned several dreams into reality...": PM Modi on 10 years of Mudra Yojana
Prime Minister Narendra Modi celebrated the 10th anniversary of the Mudra Yojana, highlighting its success in empowering previously overlooked individuals through financial support. The scheme has enabled countless dreams to materialize, fostering dignity, self-respect, and opportunity, particularly among women and those from SC, ST, and OBC communities. The government remains committed to providing a strong ecosystem for aspiring entrepreneurs.
PM Modi to interact with Mudra Yojana beneficiaries today
Prime Minister Narendra Modi will interact with Mudra Yojana beneficiaries as the scheme completes 10 years. Pradhan Mantri Mudra Yojana has sanctioned 50 crore loan accounts, totaling Rs 33 lakh crore, aimed at funding micro enterprises and small businesses. A significant portion of beneficiaries are women and individuals from Scheduled Caste, Scheduled Tribe, and Other Backward Communities, fostering grassroots entrepreneurship.
ET Exclusive | MUDRA NPA rate among world's lowest for segment: PM Modi
Launched in 2015, the Pradhan Mantri MUDRA Yojana (PMMY) aimed to provide financial assistance to micro, small, and medium enterprises, fostering job creation and income generation. Over the past decade, the scheme has disbursed ₹33 lakh crore through 52 crore loans, with a focus on empowering women and marginalized communities.
'Sapne Nahi Haqeeqat Bunte..': BJP launches multi-lingual campaigns highlighting govt policies
The Bharatiya Janata Party (BJP) launches a multi-lingual campaign across social media platforms, spotlighting key government policies ahead of the 2024 elections. Titled 'Sapne Nahi Haqeeqat Bunte, Tabhi Toh Sab Modi Ko Chunte Hai,' the campaign emphasizes Prime Minister Narendra Modi's role in turning aspirations into reality. Focusing on initiatives like the Mudra Yojana, the campaign highlights their transformative impact, particularly in empowering entrepreneurs and fostering socioeconomic development.
Banks sanction Rs 23.2 lakh crore to about 41 crore beneficiaries under Mudra Yojana
Loans under PMMY are provided by Member Lending Institutions (MLIs) -- banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs) and other financial intermediaries, the finance ministry said in a statement on Saturday.
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.
Over Rs 10 lakh cr loans under Mudra Yojana created 51 lakh entrepreneurs between 2015-18: Smriti Irani
Union Minister Smriti Irani observed that this is a government dedicated to balancing responsibilities between ease of doing business and ease of living.
Over 10 lakh cr loans sanctioned under MUDRA Yojana
"Under the Pradhan Mantri Mudra Yojana (PMMY), 20.84 crore loan accounts totalling an amount of Rs 10.24 lac crore have been sanctioned up to November 1, 2019," Minister of State (IC) for Labour and Employment Santosh Kumar Gangwar said in a written reply to the Lok Sabha.
Over Rs 1 lakh crore disbursed under MUDRA Yojana
In a written reply to the Rajya Sabha, Minister of State for Finance Jayant Sinha said loans worth over Rs 1.09 lakh crore were given to over 2.96 crore beneficiaries.
Rs 1 lakh crore disbursed under MUDRA Yojana: PM Narendra Modi
Loans worth about Rs 1 lakh crore have been sanctioned to small entrepreneurs under the Pradhan Mantri MUDRA Yojana, PM Narendra Modi said.
Over Rs 93,600 crore sanctioned under MUDRA Yojana: Finance Jayant Sinha
More than Rs 93,600 crore has been sanctioned under Pradhan Mantri MUDRA Yojana to about 2.26 crore borrowers, Minister of State for Finance Jayant Sinha said.
Expedite loan sanctioning to youths under 'MUDRA' Yojana: Hansraj Ahir
Ahir also said that the banks refusing to sanction loan under the MUDRA scheme and child welfare scheme should be served show cause notices.
Mudra Yojana has not grown the way I wanted: Narendra Modi
Modi said that the pace of enrolment for the Pradhan Mantri MUDRA Yojana (PMMY) to help small entrepreneurs had not picked up the way he expected it to.
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