 "PM Modi, Narendra Modi")
Marking ten years of the Pradhan Mantri Mudra Yojana (PMMY), Prime Minister Narendra Modi interacted with select beneficiaries of the scheme at his residence on Tuesday.
PMMY is a flagship programme of the PM Modi-led government that aims to fund the unfunded micro enterprises and small businesses. PM Modi congratulated the beneficiaries of the scheme, highlighting how it has empowered people and “turned several dreams into reality”.
Here’s what PM Modi said
Empowerment: Calling it an ‘eye-opener’ for any government, PM Modi lauded the scheme. While addressing the beneficiaries, he mentioned that under the scheme, more than ₹33 trillion collateral-free loans have been sanctioned, thereby empowering countless individuals and providing them with an opportunity to showcase their entrepreneurial skills. The scheme has given the youth confidence to become job providers instead of being job seekers, by promoting the spirit of entrepreneurship.
Women beneficiaries: PM Modi, in his interactions, noted that it is pleasing to see that as many as 70 per cent beneficiaries of the scheme are women. The highest number of women has come forward to take part in the scheme. They have applied for the most loans, have received the most loans, and are also the fastest in repaying them.
Social inclusion and economic freedom: He noted that at least half of the beneficiaries of the scheme are members of the SC, ST, and OBC Communities. He added, “Every Mudra loan carries with it dignity, self-respect, and opportunity. In addition to financial inclusion, this scheme has also ensured social inclusion and economic freedom.”
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Inspiring others: The union government will focus on creating a robust ecosystem for every aspiring entrepreneur, where each of those aspiring entrepreneurs will have access to credit, thereby giving them a chance to grow.
Today, as we mark, #10YearsOfMUDRA, I would like to congratulate all those whose lives have been transformed thanks to this scheme. Over this decade, Mudra Yojana has turned several dreams into reality, empowering people who were previously overlooked with the financial support… pic.twitter.com/GIwtjLhoxe
— Narendra Modi (@narendramodi) April 8, 2025
Pradhan Mantri Mudra Yojana
Launched on April 8, 2015, Pradhan Mantri Mudra Yojana was established to encourage small businesses by eliminating the burden of collateral and simplifying access. It was created with a mission to form an inclusive, sustainable, and value-based entrepreneurial culture to achieve economic success and financial security. The scheme ensures collateral-free institutional credit up to ₹20 lakh is provided by Member Lending Institutions (MLIs), that is, Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs), and Micro Finance Institutions (MFIs), according to a PIB statement.
Under the scheme, the government has sanctioned 520 million loan accounts with a value of ₹32.61 trillion in the last ten years.
The scheme has three categories, namely:
Shishu (covering loan up to ₹50,000)
Kishore (covering loan above ₹50,000 and up to ₹5 lakh)
Tarun (covering loans above ₹5 lakh and up to ₹10 lakh)
An additional category, Tarun Plus, was also introduced to offer loans of value above ₹10 lakh to ₹20 lakh. The scheme is for those individuals who have previously availed of loans and repaid them.
[With inputs from agencies]
