Women from Tamil Nadu Surpassed the List of Mudra Loan Scheme Beneficiaries
- Loans were availed to activities allied to agriculture, services, trading, processing, manufacturing, etc.
- Under MUDRA scheme, the maximum number of borrowers are women.
- Tamil Nadu has topped the list of loan benefits under the PMMY by availing Rs 58,227 crore loan.
Over 15 crore loans amounting to 4.78-lakh-crore have been distributed to women borrowers since the commencement of the Pradhan Mantri Mudra Yojana (PMMY) in which Tamil Nadu is in the top of the list in availing the loan followed by women in West Bengal and Karnataka.
According to the data provided by the Ministry of Finance to the Rajya Sabha, on March 31 women from Tamil Nadu had availed the maximum amount of loan beneficiaries with Rs 58,277 crore loan from the scheme followed by West Bengal Rs 55,232 crore, Karnataka Rs 44,879 crore and Maharashtra Rs 42,000 crore loan.
All together these women from five states have got 52 percent of the total MUDRA loan. The loans provided under this scheme are extended to eligible borrowers for manufacturing, processing, trading, services, and activities associated with agriculture, which provides help in creating income-generating activities and employment.
The PMMY was introduced on 8th April 2015 to provide loans up to Rs 10 lakh to the non-corporate, non-farm small/micro-enterprises. The loans are named as MUDRA loans under PMMY. The loans are given by Commercial Banks, RRBs (Regional Rural Banks), SFBs (Small Finance Banks), MFIs (Micro Finance Institutions), and NBFCs (Non-Banking Financial Companies.
From the total number of loans provided under the MUDRA scheme, most of the percentage that is 70% of borrowers were women.
The government data on MUDRA loans replicate the sum of women who are joining micro-enterprises and NCSBS is mounting. However, the experts say that there is a need of a mechanism to check it whether the amount of loan availed by the women are being used by them or are these going to the male members of the family, who are running the business in the name of women in the household.