PM MUDRA Yojana Marks 10 Years of Empowerment

Why in the News ?

The Pradhan Mantri MUDRA Yojana completes 10 years today. To mark the occasion, Prime Minister Narendra Modi will interact with beneficiaries. The scheme has sanctioned over 52 crore loans worth ₹32 lakh crore to boost small enterprises and financial inclusion.

PM MUDRA Yojana Marks 10 Years of Empowerment

About Milestone Celebration of PM MUDRA Yojana:

  • The Pradhan Mantri MUDRA Yojana (PMMY) has completed 10 years since its launch in 2015.
  • On this occasion, Prime Minister Narendra Modi is scheduled to interact with beneficiaries of the scheme in New Delhi.
  • The event will be telecast live at 9 AM, showcasing success stories and impact of the scheme on grassroots entrepreneurs.

Achievements of the Scheme

  • Over the past decade, more than 52 crore loans have been sanctioned under PMMY.
  • The total value of these loans exceeds ₹32 lakh crore.
  • The scheme has played a key role in financial inclusion, targeting those traditionally excluded from formal credit systems.

About the MUDRA Yojana:

●      PMMY was launched with the goal to empower small and micro enterprises, especially in the non-corporate and non-farm sectors.

●      It provides collateral-free loans up to ₹10 lakh through banks, NBFCs, and microfinance institutions.

●      The initiative aims to encourage entrepreneurship, generate employment, and support self-reliance at the grassroots.

●      It classifies loans under three categories: Shishu (up to ₹50,000), Kishore (₹50,001 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh), based on the stage of business growth.