Union Urban Development Minister Venkaiah Naidu has said, micro, small and medium industries make significant contribution in generating employment and economic growth and therefore the MUDRA bank loan scheme is aiming at providing them loan on easier terms for their development. Inaugurating a mega loan distribution function in Chennai under the Pradhan Mantri Mudra Yojana, he said the amount of non-performing assets related to small traders and women self-help groups is very low as compared to large industrial houses. Fiscal, Current Account and Revenue Deficits have been overcome and also the trust deficit of the people, as they are now looking up to Prime Minister Narendra Modi with confidence, he remarked. About 500 beneficiaries were given loans worth 1.5 crore rupees by 27 banks in the event.