Tamil Nadu accounts for highest number of Mudra loan accounts: Data

CHENNAI: Tamil Nadu has the highest number of Mudra loan accounts and disbursements under the Pradhan Mantri Mudra Yojana (PMMY) scheme, data revealed.

The state has secured a cumulative total of 5.62 crore loan accounts under the PMMY, as per data uploaded by Member Lending Institutions (MLIs) on Mudra Portal.

Under the scheme, the state was sanctioned loans amounting to Rs 3.06 lakh crore with Rs 3.03 lakh crore disbursed to entrepreneurs across Tamil Nadu.

The scheme was launched in April 2015 by PM Narendra Modi with the aim to facilitate easy collateral-free micro credit of up to Rs 10 lakh to non-corporate, non-farm micro and small entrepreneurs for income generating activities.

More than 49 crore loan accounts amounting to over Rs 30 lakh crore have been sanctioned since the launch of the scheme, as per the data.

Following the release of the data, Tamil Nadu Congress Committee (TNCC) president K Selvaperunthagai on Sunday demanded a white paper from the Union government on the number of Mudra loans disbursed in Tamil Nadu in the 2023-24 financial year.

Taking a strong exception to the statement of Finance Minister Nirmala Sitaraman at a recent Coimbatore conference regarding loans disbursed for Mudra account holders, the TNCC chief said that the MSME entrepreneurs who attended the conference were shocked by the claim of the union minister that Mudra loans to the tune of Rs 3 lakh crore was disbursed to 5.6 crore Mudra account holders in Tamil Nadu, including 20 lakh account holders in Coimbatore who had ‘received’ Rs 13,180 crore, he remarked.