PM Modi's 'Mudra Yojana' fuels business dreams in MP's Neemuch

IANS April 12, 2025 92 views

Prime Minister Narendra Modi's Mudra Yojana has emerged as a powerful tool for economic empowerment in Neemuch, Madhya Pradesh. The scheme provides easy, collateral-free loans to small business owners, helping them expand and grow their enterprises. Local entrepreneurs like Saurabh Bhavrela and Suraj Solanki have successfully used these loans to stock their shops and scale their businesses. The program demonstrates how targeted financial support can unlock entrepreneurial potential in smaller towns and rural areas.

"The process was simple and required minimal documentation" - Saurabh Bhavrela, Neemuch Workshop Owner
Neemuch, April 12: Pradhan Mantri Mudra Yojana (PMMY), a welfare scheme launched by Prime Minister Narendra Modi, has become a catalyst for small business growth in Neemuch, Madhya Pradesh. Beneficiaries here are flourishing after receiving loans of up to Rs 20 lakh with minimal documentation and no collateral.

Key Points

1

Mudra Yojana offers loans up to Rs 20 lakh without collateral

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Enables small entrepreneurs to expand business operations

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Simplified credit access for non-corporate micro enterprises

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Supports grassroots business growth in Madhya Pradesh

The PMMY, launched on April 8, 2015, aims to provide easy access to credit for young entrepreneurs and small business owners. Under the scheme, non-corporate, non-farm micro/small enterprises can avail loans from commercial banks, regional rural banks, small finance banks, microfinance institutions, and NBFCs.

Many young entrepreneurs in Neemuch have expanded their businesses by availing of this loan facility. Saurabh Bhavrela, owner of Neemuch Workshop and Auto Parts, told IANS, "I took a Mudra loan two and a half years ago. The process was simple and required minimal documentation. I received Rs 50,000, which I used to stock up my shop. It helped me increase my profits. This scheme by the Prime Minister is extremely beneficial for small businessmen like me."

Suraj Solanki, engaged in marble and construction work, said: "I've been in the marble and construction business for years. To expand, I applied for a Mudra loan and was granted Rs 5 lakh. What's great is that I got the loan without offering any property as collateral. I'm now successfully running and growing my business."

Shambhu Lal Lakshkar, a resident of Dwarkapuri, who runs a bangle-making and wholesale business, said, "I received a loan of Rs 4.7 lakh through PM Mudra Yojana. The process was smooth, required very few documents, and most importantly, no guarantee or collateral was needed. With the loan amount, I was able to expand my business operations effectively. I sincerely thank Prime Minister Modi for launching such a commendable scheme."

The stories from Neemuch showcase how the Mudra Yojana is changing lives, fostering entrepreneurship, and enabling people to run sustainable businesses -- all with the ease of getting credit without collateral.

Reader Comments

R
Rahul K.
This is exactly what our country needs! 👏 So many talented people just need that initial push to start their businesses. Great to see real success stories coming from small towns like Neemuch.
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Priya M.
While the scheme is helpful, I wish the article had mentioned the repayment rates. Loans are great but only if people can pay them back. Still, happy to see small businesses getting support!
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Amit S.
My cousin in Indore also benefited from Mudra Yojana. Started a small mobile repair shop and now employs 3 people. These schemes make a real difference at grassroots level.
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Sunita R.
The no collateral aspect is game-changing! So many women in my neighborhood have started small businesses because of this. More power to our entrepreneurs! 💪
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Vikas P.
I appreciate the focus on non-corporate businesses. Big companies get all the attention, but it's these small shops and workshops that really keep our local economies running.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Tags:
Mudra Yojana Narendra Modi Small Business Loans Entrepreneurship Madhya Pradesh Neemuch
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