Union Cabinet approves continuation of Credit Guarantee Fund for Micro Units under PM Mudra Yojana till March 2031

New Delhi, November 11
The Union Cabinet has approved the continuation of Credit Guarantee Fund for Micro Units under Pradhan Mantri Mudra Yojana for a period of five years upto 31st March 2031. As of September this year, more than 60.36 crore loans amounting to 43.34 lakhs crore rupees have been sanctioned by lending institutions since launch of PM Mudra Scheme.

Briefing media in New Delhi today after the Union Cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw said that the outlay of five thousand crore rupees is approved for guarantee and it is expected to support mudra loans worth 12.60 lakh crore rupees.

The Union Cabinet has approved the continuation of Stand-Up India Scheme for a period of five years upto 31st March 2031. The scheme aims to promote entrepreneurship among Women, Scheduled Castes and Scheduled Tribes and aims to provide financial assistance to additional 2.5 lakh entrepreneurs in a span of five years. Since its launch in April 2016, the scheme has facilitated loans to more than 2.75 lakh Women, SC, and ST entrepreneurs.

Mr Vaishnaw said that the scheme guarantees loans of ten lakh to one crore rupees to women, SC and ST entrepreneurs. He said, the scheme duration will be for four years, with a Corpus of four thousand 111 crore rupees towards credit guarantee.

The Union Cabinet has approved the extension of Aqua Line Metro Rail Corridor from Noida Sector-51 to Greater Noida Sector-04 of Noida Metro Rail Project covering approximately 8.5 kilometres and comprising five elevated stations. On operationalisation of this corridor, Noida and Greater Noida will have around 72 kilometres of active Metro Rail Network. The extension of the Aqua Line Metro Rail Corridor represents a significant advancement in the city’s infrastructure development.