Eleven years ago, on April 8, 2015, Prime Minister Narendra Modi unveiled the Pradhan Mantri Mudra Yojana, a bold initiative to fuel micro-entrepreneurship. Today, as it nears its landmark anniversary in 2026, the scheme stands tall with 52.37 crore loans worth Rs 33.65 lakh crore disbursed—without any collateral—empowering the nation’s youth, women, and underprivileged.
Women lead the charge, comprising 70% of beneficiaries, while SC/ST/OBC groups make up 50%. This has shifted paradigms, converting unemployment into opportunity.
Take Gwalior’s Vinita Tomar: A former wage earner, she applied for PMMY loan from Central Bank, got Rs 10 lakh approved swiftly with basic documents, and opened a boutique. Three years on, it’s a success, providing jobs to fellow women. ‘Mudra made my self-reliance dream real,’ she says, praising PM Modi’s women-focused policies.
Further south, in Chickballapur, Karnataka, Bir Bahadur Dhami’s journey mirrors this. With Rs 1.95 lakh from Mudra 10 months back, his restaurant now buzzes with 10 staff, serving varied dishes and embodying small-city hustle.
In Jharkhand’s Giridih and Deoghar, the scheme has sparked a business boom: sewing centers, water plants, carts, and more. Munni Kumari’s mineral water venture, aided by PMMY and PMEGP, generates steady income and employment. Her husband and father-in-law highlight how the Rs loan from Bank of India changed their fortunes.
Local Bank of India chief Sarvottam Kumar reveals 2,370 crore loaned in Jharkhand alone, fueling thousands of self-employment stories.
PMMY isn’t just loans; it’s a movement redefining India’s economic landscape, proving accessible finance can unlock boundless potential.
