Mangaluru, September 29: Pradhan Mantri Mudra Yojana (PMMY), was launched by MP Nalin Kumar Kateel at Zilla Panchayat here on Monday September 28th.
This is a central government project which enables micro businesses to borrow loans upto Rs 10 lakhs from banks for non-agricultural income generating activities. Mudra Yojana has three categories – Sishu (upto Rs 50,000), Kishor (Rs 50,000 to Rs 5 lakhs) and Tarun (Rs 5 lakhs to Rs 10 lakhs), under which a borrower can avail loan.
Nalin Kumar Kateel addressing the gathering said, the new scheme Pradhan Mantri Mudra Yojana introduced by the Prime Minister will enable borrowers to borrow loans upto Rs 10 lakhs. Banks have great responsibility in ensuring the scheme reaches to maximum beneficiaries. In this direction there is a necessity to provide information on the scheme to the respective beneficiaries. I am sure that bank officials will be successful in implementing and providing benefits to maximum number of beneficiaries. I am happy to inform that there has been a proposal to transform the post office into bank, he said.
Mangaluru North MLA Mohiuddin Bava said, after the education, youth of this region can avail this facility to start a small business. The government can only launch these schemes, but it needs to be implemented by the officials. We wish that the benefit of this scheme reaches all. I request the officials to put sincere efforts to make this scheme reach the maximum number of people. When the borrowers come then they should be provided with all the details. I wish success to all the beneficiaries, he said.
MP Nalin Kumar Kateel handed over the cheques to beneficiaries on this occasion.
Sathish Kumpala, Zilla Panchayat vice-president, Zilla Panchayat CEO Shree Vidya, AGM of NABARD –Prasad, K T Rai, field general manager of Syndicate Bank, V K Shrivastava, executive director of Corporation Bank were present on the dais.
