PMMY: 10 Years of Fuelling Grassroots Entrepreneurship

On 8th April 2025, the Pradhan Mantri MUDRA Yojana (PMMY) completed 10 years of empowering non-corporate micro and small enterprises through access to collateral-free institutional credit.

Need

  • Credit Access Gap: Millions of micro and small enterprises in India lacked access to formal credit before 2015.
  • MSME Sector’s Importance: MSMEs contribute about 30% to India’s GDP and are the second-largest employer after agriculture.
  • Financial Inclusion: The scheme addresses credit exclusion among women, SC/ST/OBCs, and minorities, fostering inclusive entrepreneurship.

Key Objectives of PMMY

  • Financial Access: Provide loans up to Rs.20 lakh without collateral to non-corporate, non-farm small/micro enterprises.
  • Job Creation: Support employment generation by ....
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