India, Nov. 11 -- The Government of India has issued a release:
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved thecontinuation of Credit Guarantee Fund for Micro Units (CGFMU) for a period of five years upto 31.03.2031. The scheme provides credit guarantee coverage to the Lending Institutions through National Credit Guarantee Trustee Company Limited (NCGTC) against default risk.
As on September 2026, more than 60.36 crore loans amounting to Rs.43.34 lakhs crore have been sanctioned by lending institutions since launch of PM Mudra Scheme. CGFMU which was launched in January 2016 has acted as a major catalyst in enabling the growth of PMMY loans in the country.
Salient features of the Scheme:
Impact:
Disclaimer: Curated by HT Syndication.
