"Loans worth Rs 33 lakh crore, 70% to women": PM Modi celebrates a decade of MUDRA Yojana with beneficiaries.

On Tuesday, Prime Minister Narendra Modi celebrated the 10-year milestone of the Pradhan Mantri Mudra Yojana (PMMY), highlighting that the scheme has sanctioned over Rs 33 lakh crore in collateral-free loans to foster entrepreneurial talent across India. Meeting with a group of beneficiaries at his Delhi residence, Modi emphasized how the initiative has ignited a passion for entrepreneurship among the nation’s youth, encouraging them to become job creators rather than job seekers.

Launched on April 8, 2015, the PMMY aims to provide accessible, collateral-free credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-enterprises through Member Lending Institutions (MLIs). In a post on X (previously Twitter), Modi wrote, “Mudra Yojana has opened doors for countless individuals to display their entrepreneurial abilities. I met some beneficiaries today—their stories are truly motivating.” He added, “Each Mudra loan embodies dignity, self-respect, and opportunity. Beyond financial inclusion, it has advanced social inclusion and economic empowerment.”

Modi pointed out the scheme’s inclusive reach, noting that half of its beneficiaries hail from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC), while more than 70 percent are women. He highlighted that women have been the most active participants—applying for and receiving the highest number of loans, and repaying them the fastest. Addressing the beneficiaries, he promised a review of the scheme to enhance its effectiveness and reaffirmed the government’s commitment to building a supportive ecosystem where aspiring entrepreneurs can access credit to pursue growth with confidence, as reported by PTI.

Official data from the MUDRA website shows a significant rise in disbursements: from approximately Rs 13 lakh crore in 2015-16, when the scheme began, to Rs 49 lakh crore in 2024-25. Under PMMY, loans of up to Rs 20 lakh are offered without collateral by MLIs, including scheduled commercial banks, regional rural banks (RRBs), small finance banks (SFBs), non-banking financial companies (NBFCs), and microfinance institutions (MFIs).

The scheme features four loan categories—‘Shishu’, ‘Kishore’, ‘Tarun’, and ‘TarunPlus’—designed to match the developmental stages and funding needs of beneficiaries while guiding them toward future growth. The ‘Shishu’ category covers loans up to Rs 50,000, ‘Kishore’ ranges from Rs 50,000 to Rs 5 lakh, ‘Tarun’ spans Rs 5 lakh to Rs 10 lakh, and ‘TarunPlus’ extends from Rs 10 lakh to Rs 20 lakh. These loans target income-generating micro and small businesses in trading, manufacturing, services, and agriculture-allied activities, according to the MUDRA website.