Finance ministry tied with 40 entities for extending loans under Mudra scheme

Vastavam web: The finance ministry has tied up with 40 entities including Flipkart, Swiggy, Patanjali and Amul, which are big job creators, for extending loans to small entrepreneurs under the Mudra scheme. In order to identify people who can be given funds under the Pradhan Mantri Mudra Yojana (PMMY), the ministry will on May 23 (rpt) May 23 organise an event in Mumbai to extend loan under the scheme.

“We have identified about 40 companies as biggest job creators. These companies will identify people who need loans under Mudra Yojana, underwrite them and we will extend loans under the scheme,” Financial Services Secretary Rajiv Kumar told. The companies which have tied up with the financial services department for this include Make My Trip, Zomato, Meru Cab, Muthoot, Edelweiss, Amazon, Ola, Amazon, Big Basket, Carz on Rent and Habib Salon.

Last fiscal the government has extended Rs 2.53 lakh crore credit under the Mudra Yojana, while Rs 5.73 lakh crore has been extended in last 3 years. The focus of the Seminar in Mumbai would be creating job opportunities and instilling the sense of entrepreneurship, to facilitate people to become job creators in place of job seekers.

Further, discussions will also be held to formulate a MUDRA scheme to consider extending finance to retail franchisee/ transport solutions /suppliers of entities like Flipkart, Amazon, Uber, Ola, OYO, Amul, Patanjali and Zomata requiring loans up to Rs 10 lakh under the Yojana.