Govt to organise `mega credit camps' under MUDRA scheme

Government will organise `mega credit camps' across the country between 25 September and 2 October 2015 in order to reach out to the maximum number of borrowers under the Pradhan Mantri MUDRA Yojana (PMMY) loans.

The banking sector has been allocated the an overall disbursement target of Rs1,22,188 crore under the Micro Units Development and Refinance Agency (MUDRA) scheme during 2015-16 out of which they have already disbursed Rs15,566 crore as of 17 August 2015 to more than 2 million borrowers in the country.

Banks are also making best possible efforts to popularise the scheme by organising Awareness camps are also being organised at various locations by the Banks.

The mega credit camps are intended to reach out to the maximum number of borrowers who could get credit as per their requirement under three categories of loans.

These MUDRA loans have been divided into three categories, viz, 'Shishu' for loans up to Rs50,000, 'Kishore' for loans above Rs50,000 and up to Rs5 lakhs and 'Tarun' for loans above Rs5 lakh and up to Rs10 lakh. In lending, priority will be given to SCs/STs enterprises.
The emphasis of the camps would be to disburse loans under 'Shishu' category.

The government had, on 8 April 2015, launched Micro Units Development and Refinance Agency (MUDRA) and Pradhan Mantri MUDRA Yojana (PMMY) for funding around 57.7 million unfunded micro units operating in the country.

Around 62 per cent of these units are owned by SCs/STs/OBCs.