11 Years of PM MUDRA Yojana: Funding the Unfunded

Pradhan Mantri Mudra Yojana (PMMY) completed 11 years on April 8, 2026, a milestone that marks over a decade of collateral-free credit access for India’s micro and small entrepreneurs.

What led the government to launch Pradhan Mantri MUDRA Yojana?

Role of Micro Entrepreneurs

  • Across India’s cities, towns, and villages, millions of small entrepreneurs sustain local economies.
  • They run neighbourhood shops, repair services, small-scale manufacturing units, and transport activities.
  • These micro businesses generate livelihoods and provide employment at the community level.

Challenges Faced

  • Limited access to formal bank credit restricted their growth.
  • Many lacked collateral and proper financial records required by banks.
  • Dependence ....
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