Loans worth Rs 1.09 lakh crore have been given to small entrepreneurs under the Pradhan Mantri 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.
Under Pradhan Mantri MUDRA Yojana, which was launched in April last year, loans between Rs 50,000 and Rs 10 lakh are provided to small entrepreneurs.
The Micro Units Development and Refinance Agency Ltd (MUDRA) focuses on the 5.75 crore self-employed who deploy funds totaling Rs 11 lakh crore and provide jobs to 12 crore people.
The banking sector has been allocated an overall disbursement target of about Rs 1.22 lakh crore during 2015-16 for MUDRA loans.