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PM Modi celebrated 10 years of the Pradhan Mantri Mudra Yojana by hosting beneficiaries at his residence, highlighting the scheme’s life-changing impact.
PM Narendra Modi interacts with MUDRA Yojana beneficiaries (Video Screengrab)
Prime Minister Narendra Modi on Tuesday celebrated 10 years of the Pradhan Mantri Mudra Yojana (PMMY) and invited Mudra beneficiaries from all over the country to his residence.
In an X post, before the interaction was telecast, PM Modi said the beneficiaries shared with him, some fascinating insights on how this scheme has transformed their lives.
“To mark #10YearsOfMUDRA, I had invited Mudra beneficiaries from all over India to my residence. They shared fascinating insights on how this scheme has transformed their lives,” the Prime Minister wrote in an X post.
As the interaction was being telecast, PM Modi, in another X post, wrote, “Mudra Yojana has given opportunities to countless people to showcase their entrepreneurial skills.”
Here’s the complete interaction of PM Modi with the MUDRA Yojana beneficiaries.
Mudra Yojana has given opportunities to countless people to showcase their entrepreneurial skills. Interacted with some of the beneficiaries of the scheme. Their journey is inspiring. #10YearsOfMUDRA https://t.co/QcoIK1VTki— Narendra Modi (@narendramodi) April 8, 2025
During the interaction, an entrepreneur from Kerala, who had been working in the United Arab Emirates, revealed how the MUDRA Yojana has benefited him, saying it had transformed him “into a successful entrepreneur”, to which the Prime Minister nodded.
The Kerala native also acknowledged the Yojana has helped his business thrive, also mentioning that it has created job opportunities.
The Prime Minister asked him if his mother was upset about him moving back to India, to which the entrepreneur said that everything went well in the end.
Another beneficiary of the Yojana, Lavkush Mehra from Madhya Pradesh’s Bhopal, revealed how he earlier used to work for someone, but put a business of his own later with the help of MUDRA loan.
He also revealed his first-year turnover was Rs 12 lakhs, which has now gone up to more than Rs 50 lakh.
#WATCH | Delhi: Prime Minister Narendra Modi interacted with ‘Mudra Yojana Beneficiaries’PM Modi says, “The Mudra scheme is not for Modi’s praises. This scheme is to give courage to the youth of my country to stand on their own feet.”
Lavkush Mehra, a beneficiary from Bhopal,… pic.twitter.com/lq3o5eKeMl
— ANI (@ANI) April 8, 2025
The PMMY was launched on April 8, 2015, by Prime Minister Narendra Modi to provide collateral-free institutional credit of up to Rs 20 lakh through Member Lending Institutions.
Since its inception of the scheme over 52.37 crore loans amounting to Rs 33.65 lakh crore have been sanctioned, with approximately 20 per cent of the loans to new entrepreneurs or accounts, Financial Services Secretary M Nagaraju told media during a briefing on Monday.
GOAL OF THE PM MUDRA YOJANA
The PMMY focuses on the financial needs of all stakeholders, ranging from budding entrepreneurs to hardworking farmers, through various initiatives of the scheme.
Under the PMMY, collateral-free loans of up to Rs 10 lakh are extended by member lending institutions (MLIs) viz scheduled commercial banks, regional rural banks (RRBs), small finance banks (SFBs), non-banking financial companies (NBFCs), microfinance institutions (MFIs) etc.
The loans are given for income-generating activities in the manufacturing, trading and services sectors and activities allied to agriculture.
The scheme was launched to encourage small businesses, and banks were asked to provide collateral-free loans up to Rs 20 lakh under three categories — Shishu (up to Rs 50,000), Kishore (between Rs 50,000 and Rs 5 lakh) and Tarun (Rs 20 lakh).