The Pradhan Mantri Mudra Yojana (PMMY) has played a crucial role in supporting small businesses and encouraging entrepreneurship across India. In fact, the latest update on PMMY highlights positive progress in reducing non-performing assets (NPAs) on Mudra loans. As announced by Finance Minister Nirmala Sitharaman, mudra loan NPA dropped to 3.4% for public sector banks in 2023-24. This shows improved loan recovery strategies and stricter monitoring. Private sector banks also saw a decline in NPAs, which stood at 0.95% during the same period. However, while the scheme has indeed been a major player for economic… Read More