Berhampur: Union Petroleum minister Dharmendra Pradhan today formally launched a week-long loan mela for Shishu loan under Pradhan Mantri Mudra Yojana (PMMRY) by the different banks here.
Prime Minister Narendra Modi had launched the PMMY earlier in April.
The main aim of the PMMY is to provide hassle free loans to small businesspersons and young entrepreneurs to enhance their trade, said the minister after launching the scheme at a meeting here.
There are three categories of the loan in the scheme, which includes Shishu (laons up to Rs 50,000), Kishore (loans above Rs 50,000 and upto Rs 5 lakh) and Tarun (loans above Rs 5 lakh to Rs 10 lakh).
In Odisha, the banks would provide around Rs 550 crore loans under Shishu category of the PMMY. Around Rs 105 crore loans to around 4000 people under the category has already disbursed by different banks in the state so far, he said. The loan mela by different banks would continue till October 2 across the state, he said.