Prime Minister Narendra Modi on Wednesday marked the 11th anniversary of the Pradhan Mantri Mudra Yojana (PMMY), underscoring its critical role in promoting self-employment among young Indians.
Sharing his message on social media platform X, he said the scheme demonstrates that, with the right opportunities, individuals can achieve self-reliance and contribute meaningfully to the nation’s growth.
Launched on April 8, 2015, PMMY provides collateral-free credit of up to Rs 20 lakh through Member Lending Institutions, including Scheduled Commercial Banks, Non-Banking Financial Companies, and Micro Finance Institutions.
The scheme supports income-generating activities in manufacturing, trading, services, and agriculture-allied sectors, with loans structured into Shishu (up to Rs 50,000), Kishor (Rs 50,001–5 lakh), Tarun (Rs 5–10 lakh), and Tarun Plus (Rs 10–20 lakh) categories.
PMMY has significantly empowered small businesses, handicrafts, traditional enterprises, and agriculture-related ventures, which are vital income sources for rural households.
Women entrepreneurs, in particular, have benefited, gaining access to credit without collateral or extensive credit histories.
To encourage continued growth, the government introduced the ‘Tarun Plus’ category in 2024–25, offering collateral-free loans of up to Rs 20 lakh to borrowers who previously repaid Tarun loans successfully.
Additionally, platforms like the Jan Samarth Portal have simplified applications, allowing applicants to access multiple credit-linked schemes through a streamlined, user-friendly process.
Across India, PMMY continues to be a catalyst for youth entrepreneurship, enabling young Indians to realise their ambitions, generate livelihoods, and contribute to the nation’s economic development.
