Banks need to lend Rs 1 lakh crore to meet MUDRA target

With less than one month left in the current fiscal, banks will have to work overtime to meet the MUDRA loan lending target of Rs 3 lakh crore, as only about Rs 2 lakh crore have been disbursed till February 22. As on February 22, the total loan disbursed under the Micro Units Development and Refinance Agency Ltd (MUDRA) scheme stood at Rs 2,02,668.9 crore as against sanctioned amount of Rs 2,10,759.51 crore, said a government data. The latest data of the finance ministry said over 3.89 crore MUDRA loans have been sanctioned this fiscal so far. As per the Budget 2018-19, the government intends to disburse loans of up to Rs 3 lakh crore in the current financial year ending March 31.