Mudra Banks to disburse Rs 1,80,000 cr in loans in 2016-17: Jayant Sinha

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New Delhi, June 22 (IANS) Minister of state for Finance Jayant Sinha said here on Wednesday that the government aims to disburse loans worth Rs 1,80,000 crore to small businesses through Mudra Banks in the current fiscal year.

“Last year Pradhan Mantri Mudra Yojana gave loans worth Rs 1,20,000 crore. This year the aim is to give loans worth Rs 1,80,000 crore,” Sinha said at the inauguration of a financial literacy camp.

In a bid to boost the Mudra Yojana, facilitation centres will be providing assistance to new entrepreneurs, he said.

As many as 3.5 crore people have been benefited by the Mudra Yojana so far, Sinha added.

Further, a portal and mobile app for a loan origination system is in the pipeline to monitor the entire process and time taken for dispersal of the loan, he said.

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