Pradhan Mantri Mudra Yojana (PMMY) and Stand-Up India Scheme (SUPI) are the flagship Schemes implemented by Department of Financial Services (DFS) for extending loans to entrepreneurs. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha on August 2.
Under PMMY, institutional credit up to Rs. 10 lakh is provided by Member Lending institutions (MLIs) for entrepreneurial activities to micro/small business units, including for new enterprises, which help in creating income generating activities in sectors such as manufacturing, trading, services and activities allied to agriculture.
Government allocates annual targets regarding the amount to be sanctioned under PMMY to MLIs. For the current financial year (FY), a target of sanction of Rs. 3.00 lakh crore has been fixed for MLIs.