Prime Minister Narendra Modi praised the Pradhan Mantri Mudra Yojana (PMMY) as it marked 11 years since its inception. The scheme, launched in 2015, aims to provide collateral-free credit of up to Rs 20 lakh to individuals for income-generating activities. PMMY offers loans categorized into four segments based on the loan amount, supporting small businesses, traditional enterprises, and agriculture-related activities. Notably, the scheme has been beneficial for women entrepreneurs by providing access to credit without stringent requirements.
The government introduced the ‘Tarun Plus’ category in 2024-25 to offer collateral-free loans of up to Rs 20 lakh to successful borrowers under the PMMY. Various initiatives have been implemented to simplify the loan application process and ensure timely disbursal, including the Jan Samarth Portal. These measures aim to enhance accessibility to credit-linked schemes through a user-friendly platform.
