New Delhi: The finance ministry has tied up with 40 entities including Flipkart, Swiggy, Patanjali, and Amul, which are big job creators, for extending loans to small entrepreneurs under the Mudra scheme.

Financial Services Secretary Rajiv Kumar told PTI that in order to identify people who can be given funds under the Pradhan Mantri Mudra Yojana (PMMY), the ministry will organize an event in Mumbai on Wednesday (23 May) to extend loan under the scheme. He said about 40 companies have been identified as biggest job creators.

These companies will identify people who need loans under Mudra Yojana, underwrite them and we will extend loans under the scheme.

PMMY was launched by Prime Minister Narendra Modi on April 8, 2015, for providing loans of up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises. Last fiscal the government has extended Rs 2.53 lakh crore credit under the Mudra Yojana, while Rs 5.73 lakh crore has been extended in last 3 years.