The Pradhan Mantri MUDRA Yojana (PMMY) has sanctioned over 53.85 crore collateral-free loans worth ₹35.13 lakh crore to micro and small enterprises, promoting self-employment and income generation since its launch. Complementing this, the Pradhan Mantri Jan Dhan Yojana (PMJDY) has facilitated the opening of more than 55.90 crore bank accounts, advancing financial inclusion. The government has also implemented targeted schemes like Stand-Up India, PM SVANidhi, PM Vishwakarma, and PMEGP to boost credit access for SC/ST and women entrepreneurs, artisans, and micro-enterprises. To strengthen credit evaluation for underserved groups, initiatives such as the Grameen Credit Score and the MSME New Digital Credit Assessment Framework have been introduced, leveraging technology and alternative data. Platforms like the Jan Samarth Portal and RBI’s Priority Sector Lending (PSL) norms further ensure efficient credit delivery to key sectors, enhancing participation in the formal financial system.
