What was the percentage increase in the disbursal of 'Pradhan Mantri Mudra Yojana' (PMMY) loans in the first quarter of FY 2023-24 compared to the same quarter in the previous year, if the disbursal reached ₹81,597 crore, up from ₹62,650 crore?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 23 %.
In the first quarter of FY 2023–24, the disbursal of loans under the Pradhan Mantri Mudra Yojana (PMMY) rose significantly. The total loan disbursal reached ₹81,597 crore, compared to ₹66,917 crore during the same quarter of the previous financial year. This marks an approximate 23% increase in loan disbursal. The rise indicates the growing outreach and impact of the scheme aimed at supporting micro and small entrepreneurs. PMMY continues to play a vital role in promoting self-employment and small business growth across India, especially in rural and semi-urban areas where formal credit access remains limited.