Over one lakh beneficiaries, especially coming from economically weaker sections of society would be given financial assistance by providing collateral-free loans under newly launched Prime Minister Mudra Yojna (PMMY).
Special camps starting from September 25 would be organised in all the districts of the State for issuing Mudra Card which would guarantee loan ranging between Rs 50,000 and Rs 10 lakh.
All the commercial banks of the State, including private, public and regional rural banks have been given targets.
The loan is meant for small entrepreneurs who have otherwise to depend on moneylenders for starting or running any business and are charged with exorbitant interest rates.
Now, the banks can charge maximum interest at the rate of 12 per cent for all the three categories of loans under the PMMY scheme.