Mudra Loans: Empowering Grassroots Entrepreneurs

Punjab & Sind Bank has provided Mudra loans amounting to Rs 12,820 crore over the past decade, generating 10 lakh jobs and benefiting over 6.84 lakh individuals. Focused on grassroots entrepreneurship, the scheme empowers small vendors, women entrepreneurs, and youth, aligning with national employment trends.

Punjab & Sind Bank has disbursed Mudra loans totaling Rs 12,820 crore over the past 10 years, creating around 10 lakh jobs and benefiting more than 6.84 lakh individuals, according to the bank's managing director, Swarup Kumar Saha.

The loans, aligned with the Pradhan Mantri Mudra Yojana (PMMY), have targeted first-time borrowers, including small vendors and women entrepreneurs. Approximately 44 per cent of the disbursals fall under the Shishu category, aimed at grassroots entrepreneurship.

As the scheme marks its decade-long journey, it has facilitated over 52 crore loans nationwide, contributing to large-scale employment. The initiative remains focused on MSMEs, with a significant portion allocated to women-led enterprises to foster economic growth.

(With inputs from agencies.)