Finance ministry ties up with 40 entities to extend loans under MUDRA scheme

The finance ministry has tied up with 40 entities including Flipkart, Swiggy, Patanjali and Amul for extending loans to small entrepreneurs under the MUDRA scheme.

Financial Services Secretary Rajiv Kumar informed the delegates of the seminar on "Unleashing the power of Pradhan Mantri MUDRA Yojana – Creating Jobs and Entrepreneurship" that the initiative is building upon the success of Pradhan Mantri MUDRA Yojana (PMMY) during the last three years.

This year, MUDRA loans would focus on the value chain anchored by aggregators such as Oyo, Ola, Uber, Amazon, Flipkart, Meru, Carzonrent, Yatra, MakeMyTrip; service providers such as Swiggy, Zomato, Grab, Delhivery, Xpressbee, Loadshare; food giants such as Amul , Patanjali; industries such as Lava Mobile;   franchisors such as Jawed Habib; Oil Marketing Companies such as Indian Oil and BPCL; retailers such as Big Basket; as well as associations such as Mumbai Dabbawalas and cable operators.

Kumar said that the event is organised to identify people who can be given funds under the Pradhan Mantri Mudra Yojana (PMMY) and to extend loan under the scheme. "The companies will identify people who need loans under Mudra Yojana, underwrite them and we will extend loans under the scheme", added Kumar.

PMMY was launched by Prime Minister Narendra Modi on April 8, 2015, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.