Jaipur, Oct 13 (PTI) Terming Mudra scheme as the world s largest financial inclusion campaign, Union Minister Rajyavardhan Singh Rathore today said so far nine crore people have been given loans of Rs 4 lakh crore under the initiative.

The number of beneficiaries under the scheme is more than the population of several countries, the Minister of State for Information and Broadcasting told reporters here after participating in the Mudra Yojana promotion campaign.

He said that of the total nine crore beneficiaries under the scheme, 80 per cent are women and 55 per cent from OBC, SC and ST categories.

The Union minister said that in the current financial year, government targets to give loans worth Rs 2.04 lakh crore.

He said that banks have been directed to give loans to SC, ST and women and give reason if the loan application is refused.

The Pradhan Mantri Mudra Yojana (PMMY) provides access to institutional finance to the under-funded sections of the society.

Hailing the Narendra Modi-led BJP government, Rathore said that India stands on top in terms of capital expenditure in the world, which will lead to employment generation.

He said the government has taken various decisions, including skill development, financial inclusion of marginalised society and curbing corruption that are in the better interest of the country.

This is published unedited from the PTI feed.