The Reserve Bank of India (RBI) has voiced concern on the spike in non-performing assets (NPAs) under the government’s flagship scheme Pradhan Mantri Mudra Yojana to support micro-enterprises in the country. The RBI has raised the red flag over the Pradhan Mantri Mudra Yojana since the bad loans under the scheme have increased to Rs 11,000 crore.
The annual report of the Pradhan Mantri Mudra Yojana provides following data about the disbursements under the Pradhan Mantri Mudra Yojana:
1. The total disbursements under the scheme stood at Rs 2.46 trillion in FY 18.
2. 40 percent of these disbursements went to women entrepreneurs and 33 percent to social categories.
3. More than 4.81 crore micro-borrowers have benefited through the scheme
Pradhan Mantri MUDRA Yojana (PMMY) launched in 2015 aims to provide loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. The loans are provided through Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs.