Ranchi and Hubballi entrepreneurs rise to success with Mudra Yojana support

New Delhi, April 8: Prime Minister Narendra Modi's ambitious 'Pradhan Mantri Mudra Yojana (PMMY)' has brought a significant change in the lives of small business owners, youth, and entrepreneurs across the country. Success stories emerging from various parts of India, including Ranchi (Jharkhand), and Hubballi (Karnataka), clearly highlight that this initiative is not only a strong step towards achieving an 'Atmanirbhar Bharat' (self-reliant India), but it has also provided thousands of people with employment opportunities and a dignified life.

Kunal Agarwal, a businessman from Ranchi, started a paper plate manufacturing startup after taking a loan under the Mudra Yojana. Initially, he had a small business, but today, with hard work and support from the scheme, he has not only advanced himself but also provided jobs to three to four other people. Kunal now trains new entrepreneurs and supplies them with raw materials. He plans to expand his business further in the future. He has a well-established paper plate unit which is progressing well, according to him.

Talking to IANS, he said that Mudra Yojana benefited him a lot, with the facility of training apart from monetary help. He shared his plan to expand the business further. Kunal told IANS that a lot of people in his city are going for the Mudra Yojana loan and will be setting up their own works in due course of time. According to him, when he planned to set up his own work, people told him about the Mudra scheme under which a loan is available. So, I approached the officials concerned, and I was told yes, you can get a loan with minimum documentation. With the loan, I started my business and did well, he said.

In Karnataka, Vishal, a beneficiary from Hubballi, shared that he received a loan of Rs 4.5 lakh under the Mudra Yojana without any collateral. With this assistance, he started a bottled water unit, which is now running profitably. After making a profit in the first phase, he took another loan from the bank to expand his business. He mentioned that he has already provided employment to over 15 people and plans to further grow his business in the coming years.

It is noteworthy that the Prime Minister Mudra Yojana has promoted self-employment across the country, providing small entrepreneurs with a platform to dream big and make those dreams a reality. Whether it is a paper plate manufacturer or a bottled water business owner -- these stories illustrate that with the right opportunities and support, an ordinary person can achieve extraordinary accomplishments.

Reader Comments

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Priya M.

This is so inspiring! 👏 More people should know about these success stories. My cousin in Pune also got a Mudra loan last year to start her tailoring business. Government schemes like this can really change lives when implemented well.

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Rahul K.

While I appreciate these success stories, I wish the article had more details about the repayment rates and challenges faced by beneficiaries. Not everyone succeeds with these loans. Would help to have a more balanced perspective.

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Sunita P.

My husband got a Mudra loan to start a small grocery store in our village. It's been 2 years now and business is good! We were able to send our daughter to a better school because of this. Thank you for sharing more stories like ours.

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Amit D.

Great to see entrepreneurs from smaller cities getting recognition! The bottled water unit story is particularly interesting - shows how basic needs can turn into profitable businesses with the right support.

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Neha T.

I love how Kunal is paying it forward by training others! That's the real spirit of entrepreneurship - growing together. More established business owners should follow his example 💯

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Vikram S.

As someone who works in microfinance, I can confirm Mudra Yojana has made a real difference. The collateral-free aspect is game-changing for first-time entrepreneurs who don't have assets to pledge. Hope to see more such initiatives!

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