As on 24.11.2023, out of total 44.46 crore loans sanctioned under Pradhan Mantri Mudra Yojana (PMMY), 30.64 crore (69%) have been sanctioned to women. Further under Stand-up India (SUPI), as on 24.11.2023, out of 2.09 lakh loans sanctioned, 1.77 lakh (84%) have been sanctioned to women entrepreneurs.
Improved access to credit influences socio-economic growth of different sections of the society. PMMY was launched on 08.04.2015 to provide collateral free institutional credit to Small/ Micro enterprises for income generating activities. SUPI scheme was launched on 05.04.2016 to promote entrepreneurship among women and SC/ST by providing loans for setting up green field enterprises. Upliftment of women has been a major target of these schemes.
Micro-credit through PMMY encouraged female entrepreneurship, raised earnings and employability, and thereby empowered them financially, socially and psychologically. By allocating target to provide at least one loan to women and one loan to SC/ST entrepreneurs, SUPI encouraged lenders to finance green-field projects to women entrepreneurs which goes a long way in promotion of entrepreneurship among women and women led enterprises.
