Daijiworld Media Network- New Delhi

New Delhi, Apr 3: A recent report by the State Bank of India (SBI) has revealed that nearly 50% of Mudra loan accounts are held by individuals from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBCs), highlighting the scheme’s role in promoting financial inclusion and empowerment.

The Mudra (Micro Units Development and Refinance Agency) scheme, launched by the central government to provide collateral-free loans to small businesses, has emerged as a significant tool in boosting entrepreneurship among socially and economically marginalized groups.

According to the report, the majority of beneficiaries are first-time entrepreneurs, reflecting the scheme’s impact in encouraging financial independence and economic growth at the grassroots level.

Experts believe that the widespread reach of the Mudra scheme among SC, ST, and OBC communities has contributed to enhancing livelihood opportunities, particularly in rural and semi-urban areas.

The SBI report has been appreciated by government officials and financial experts alike, as it underscores the importance of inclusive growth and economic empowerment through accessible credit.