New Delhi: Prime Minister Narendra Modi on Tuesday extended his heartfelt congratulations to the beneficiaries of the Pradhan Mantri MUDRA Yojana (PMMY) as the nation marks 10 Years Of PM MUDRA Yojna.

The Prime Minister highlighted the pivotal role played by the MUDRA scheme in uplifting marginalized communities and promoting entrepreneurship across India.

The Prime Minister wrote in X threads” “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 to shine. It illustrates that for the people of India, nothing is impossible!”.

“It is particularly heartening that half of the Mudra beneficiaries belong to SC, ST and OBC Communities, and over 70% of the beneficiaries are women! 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,” he added.

“In the times to come, our Government will continue focusing on ensuring a robust ecosystem where every aspiring entrepreneur, has access to credit thus giving him or her the confidence and a chance to grow,” the PM Stated.

Today, as we mark, , 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_ — Narendra Modi (@narendramodi)

Giving the much needed boost to the SME and MSME sector, Finance Minister Nirmala Sitharaman announced to hike the limit of Mudra Loan to Rs 20 lakh from Rs 10 lakh in the Tarun category, in her Budget 2024.

The Pradhan Mantri MUDRA Yojana (PMMY) scheme was launched by the Modi government in April 2015 to provide loans up to Rs 10 lakh to the non-corporate, non-farm small/micro enterprises.

PMMY loans are extended by Member Lending Institutions viz. Scheduled Commercial Banks, Non Banking Finance Companies and Micro Financial Institutions, registered with Mudra Ltd.

Under the Pradhan Mantri Mudra Yojana (PMMY), Scheme by banks and Micro Finance Institutions (MFIs) Loans are extended in three categories:

Shishu (loans upto Rs. 50,000);

Kishore (loans from Rs. 50002 to Rs. 5 lakh);

Tarun (loans from Rs.5 lakh to Rs. 10 lakh)

After the Budget 2024 announcement, Mudra loan under Tarun category will be hiked to Rs 20 lakh.

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