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Banks Exceed FY17 Target by Sanctioning Loans Worth Rs. 1.80 Lakh Crore
April 17, 2017
Exceeding the target under the Mudra Scheme the banks have lent loans of a total value of Rs. 1.80 lakh crore to the unorganized sector in the last financial year.
The Pradhan Mantri Mudra Yojna scheme, dubbed as “fund the unfunded” was set with a loan target of Rs. 1.80 lakh crore in 2016-17. However, currently the sanctioned loans amount stands at Rs. 1,80,087, which doesn’t even include the data sent by some of the small NBFCs.
A new target of Rs. 2.44 lakh crore has been set for the Mudra Loans during 2017-18 by the budget.
