Between 2015 and 2017, 7.46 crore loan accounts have been opened for small entrepreneurs. Between 2015 and 2016, only 40% were getting loans for the first time and only 2.5% refinanced these loans. In case of MUDRA loans creating employment, the average size of the loan disbursed is Rs 52,700 which is insufficient to create any scalable business model.

Read more here: https://thewire.in/labour/modi-mudra-loan-scheme-job-creation-reality

Image Courtesy: Money Control