UP among major beneficiaries of PM Mudra Yojna: SIDBI

The state of  Uttar Pradesh is among the major beneficiaries of Pradhan Mantri Mudra Yojana aimed at ensuring smooth credit flow to small entrepreneurs. This was stated by the Small Industries Development Bank of India (SIDBI) chairman-cum-managing director, Kshatrapati Shivaji while speaking to journalists after presiding over the 18th annual general meeting of bank in Lucknow on Friday.

Shivaji highlighted various initiatives taken by the SIDBI during the financial year, including setting up Micro Units Development and Refinancing Agency (Mudra) as a wholly owned subsidiary of the bank. The main objective of the Mudra Yojana is to provide funds to MSMEs as this sector faces the biggest hurdle in terms of



financial support.

Mudra was launched by Prime Minister Narendra Modi on April 8, 2015 to fund the unfunded very small and self-owned enterprises.Mudra Yojana in the FY 2015-16 Rs.1,37,449 crore and had disbursed Rs. 1,32,954 crore to the MSME entrepreneurs in the country.

Out of which, an amount of 11880 Crore Rupees were disbursed in UP to the PM Mudra Yojana beneficiaries.