LIE: Loans worth more than Rs 8 crore have been sanctioned without guarantee to the youth for self-employment

Modi Lies / Tuesday, August 15th, 2017

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.

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Image Courtesy: Money Control

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