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As the Pradhan Mantri Mudra Yojana (PMMY) celebrates its 10th anniversary, the countless beneficiaries from underprivileged backgrounds, across the country, are coming forward to share how it has transformed their lives and businesses. 

Launched in 2015, the PMMY has been instrumental in fostering grassroots entrepreneurship by providing collateral-free loans to micro and small businesses. This scheme has empowered individuals from economically weaker sections to pursue their dreams of self-reliance, enabling them to start and expand their businesses without the burden of hefty collateral requirements.

In Jharkhand’s capital, Ranchi, several beneficiaries shared how the PMMY has brought significant changes to their lives. The scheme has not only promoted entrepreneurial activities among small businesses but has also contributed to the economic growth of the region.

Business owners across various sectors have expressed their gratitude to the Central government and Prime Minister Narendra Modi for the positive impact the scheme has had on their businesses and families. The PMMY has not only provided financial support but has also brought vibrancy to the local markets.

Seraj Ahmed said: "I received the benefit of PMMY in its first year, and things have changed for the better since then. I am also taking advantage of other government schemes. We no longer have to borrow from others; we directly receive financial support from the government. Getting loans has become much easier."

Bablu, another beneficiary, said: "I’ve been benefiting from this scheme for the past five years. The process is simple, and we even receive subsidies. It’s a great scheme because we don’t have to rely on anyone else for financial help. My life has changed drastically after receiving these loans, and our business is thriving."

Chandan Kumar, a fruit seller from Ranchi, remarked: "I’ve availed myself of the benefit three times. The best part is that we don’t need to provide any collateral or extensive documentation. We’re getting loans at very low interest rates, which has brought financial stability to my life. This scheme is truly transformative for small businesses."

In the state's Garhwa, similar success stories have emerged, showcasing the far-reaching impact of the PMMY.

Zahir Khan said: "It’s wonderful that the scheme has completed ten years. I’ve benefited from the loans under PMMY, and the process is quite simple. You just need to visit a bank, apply, and you’ll get the loan at a very low interest rate, which can help you start or expand your business."

Amit Kumar Shrivastav, another beneficiary, added: "This scheme is especially beneficial for small farmers and business owners like me. I received a loan under PMMY at a very low interest rate, which has significantly helped my business."

The PMMY scheme offers loans under three categories -- Shishu, Kishor and Tarun. The Shishu category covers loans up to Rs 50,000, Kishor offers loans from Rs 50,001 to Rs 5 lakh, and Tarun covers loans between Rs 5 lakh and Rs 10 lakh.

The PMMY has played a pivotal role in promoting entrepreneurship, fostering financial inclusion, and contributing to the overall economic development of Jharkhand and the nation as a whole. As the scheme marks its 10th anniversary, the heartfelt gratitude from beneficiaries reflects its success in transforming lives and creating new opportunities for millions.