The Modi government launched Pradhan Mantri Mudra Yojna (PMMY) to provide hassle-free loans to aspiring entrepreneurs. In Nagpur district loans worth Rs.832.60 crore were disbursed to over 1.74 people since its launch. However, the district administration has not data on how many of these loan borrowers actually turned into an entrepreneur.Â Â Mudra (Micro Units Development and Refinance Agency Ltd) is a NFBC supporting development of micro enterprise sector.
Loans were distributed under three categories – Shishu, Kishor and Tarun, which signifies the stage of growth and funding needs of the beneficiary. Under Shishu category loans up to Rs.50, 000 were disbursed while under Kishor and Tarun categories loans up to Rs.5 lakh and Rs.10 lakh were disbursed respectively. In Nagpur district, 1, 74,720 people applied for loan under Mudra Loan scheme of which banks approved loans worth Rs.874.60 crore.
So far, loans worth Rs.832.60 crore have been disbursed as well. Highest Rs.431.21 crore were disbursed under Shishu category to 1, 62,924 people followed by Kishor under which loans worth Rs.204.50 were disbursed to 9158 people. Under Tarun category, banks disbursed Rs.196.83 crore to 2638 people. It is learnt that loans were obtained for starting eatery units like pakoda shop, small restaurant, etc. under Shishu category. Interestingly, the no efforts were made by the district administration to track the progress of Modi governmentâ€™s ambitious scheme.
Now, after distributing over Rs.830 crore, district administration is clueless about the current status of borrowers. It was assumed that those who are paying their EMIs regularly became self-employed. The district administration however, said that tracking the status of borrowers was the responsibility of bank.
District administration never keeps a record of how loan amount was utilised by the beneficiary, district planning officer of Nagpur Milind Naringe was quoted talking to a daily.