PM interacts with beneficiaries of Pradhan Mantri Mudra Yojana

Over 100 beneficiaries of Pradhan Mantri Mudra Yojana (PMMY) from across the country on Wednesday interacted with Prime Minister Narendra Modi, who said the scheme has buried the conventional thinking that employment can be created only through public or private sectors, reports DHNS from New Delhi.

Over 11 crore people have so far been benefited from the scheme.

"One of the aims of this scheme is also to increase self-confidence among the people... This scheme has helped in the development of the 'personal sector' as a means of livelihood and self-employment," an official statement quoted the Prime Minister.

The scheme seeks to provide easy loans without guarantees to small businesses and entrepreneurs.

More than Rs 2 lakh crore has been disbursed under the scheme since its launch in April 2015. The loans are provided under three categories- Shishu, Kishore and Tarun. Loan of upto Rs 50,000 is given under 'Shishu', between Rs 50,000 to 5 lakhs is handed out under 'Kishore' and between Rs 5 lakh to Rs 10 lakh under 'Tarun'.