The Prime Minister said he thought of the 'Pradham Mantri Mudra Yojana' only after realizing that the poor and middle class people owning businesses face difficulties in getting loans from banks.
Prime Minister Narendra Modi today said that the richness of the India's poor lied in their attitude of paying back the loans they had availed from banks under the 'Pradham Mantri Mudra Yojana'.
"Of 10 crore poor families in the country, 3.5 crore families have taken benefit of the scheme. Some of them have even started paying back to banks," PM Modi said, adding, "The richness of the poor people of India is to repay the loans."
PM Modi while addressing a public meeting as part of BJP's series of meetings on completion of two years in office said the NDA government had launched the PM Mudra Yojana a year ago to financially assist traders engaged in petty business activities. Under the scheme, small-time traders are able to avail loans of Rs 50,000 to Rs 10 lakh without collateral security.
The Prime Minister said he thought of such a scheme only after realizing that the poor and middle class people owning businesses face difficulties in getting loans from banks. "Therefore, we decided to launch the scheme so that they would not face problems. So far about Rs 1.25 lakh crore has been disbursed under the scheme," PM Modi said.