FM Sitharaman, announced that the limit of loans provided under the Pradhan Mantri MUDRA Yojana (PMMY) will be increased to INR 20 Lakh from the existing INR 10 Lakh.
Further, SIDBI will open new branches to expand its reach to serve all major MSME clusters within three years, said FM.
Sitharaman said the Centre plans to open 24 such branches by the end of this year, expanding SIDBI’s service coverage to 168 out of 242 major MSME clusters.
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Budget 2024-25: FM Doubles Limit Of MUDRA Loans To INR 20 Lakh