Facing heat for not being able to back its promises of job creation, the Centre and the BJP have repeatedly cited the success of its MUDRA scheme, an acronym for Micro Units Development & Refinance Agency Ltd, meant to promote lending to small businesses. Speaking earlier this month, BJP President Amit Shah said that in the two years since MUDRA has been in existence, 7.28 crore people have become self-employed. Separately, he said these small entrepreneurs received loans worth more than Rs. 3.17 lakh crore. (MUDRA offers loans starting at Rs. 50,000 and capped at Rs. 10 lakhs.)