Tamil Nadu: Beneficiary of Pradhan Mantri Mudra Yojana shares his success story

IANS April 4, 2025 283 views

The Pradhan Mantri Mudra Yojana has emerged as a game-changer for small business owners like Satish from Tamil Nadu. By providing accessible loans at lower interest rates, the scheme has enabled entrepreneurs to overcome financial constraints and expand their ventures. Satish's journey from a struggling furniture shop owner to a growing business represents the scheme's transformative potential. With the recent loan limit increase to Rs 20 lakh, more small businesses can now leverage this critical financial support.

"This scheme has been extremely beneficial for my business growth" - Satish, Furniture Shop Owner
Tiruvallur, April 4: The Central Government launched the Pradhan Mantri Mudra Yojana (PMMY) in 2015 to provide loans to small and micro-enterprises. The scheme aims to provide financial assistance to small businesses, enabling them to grow and expand.

Key Points

1

Mudra Yojana empowers small businesses with accessible loans

2

Satish expanded from Rs 50,000 to Rs 2 lakh loan

3

Scheme supports non-corporate micro-enterprises across India

4

Government increases loan limit to Rs 20 lakh

Satish, the owner of a furniture shop in Avadi, Tamil Nadu, is a beneficiary of this scheme.

IANS spoke to Satish about his experience with the PMMY scheme. He shared that he had been running a small furniture shop for over 10 years but struggled to expand his business due to financial constraints.

When he approached banks for a loan, he was unable to secure one. However, after learning about the PMMY scheme, he managed to avail himself of a loan at a lower interest rate.

Satish expressed his gratitude to the Central Government for launching this scheme, which has significantly helped him expand his business. He advised other small business owners to take advantage of this scheme, stating that it has been extremely beneficial for him.

Initially, Satish availed a loan of Rs 50,000, which was later increased to Rs 1 lakh. Currently, he has secured a loan of up to Rs 2 lakh through the PMMY scheme.

Satish's success story is a testament to the effectiveness of the PMMY scheme in supporting small businesses and promoting entrepreneurship.

On April 8, the PMMY will turn 10. During this period, more than 52 crore accounts have been opened under the scheme. The scheme offers three categories of loans: Shishu (up to Rs 50,000), Kishore (above Rs 50,000 and up to Rs 5 lakh), and Tarun (above Rs 5 lakh and up to Rs 10 lakh). Additionally, the Tarun Plus category provides loans above Rs 10 lakh and up to Rs 20 lakh, specifically for Tarun category beneficiaries who have successfully repaid their earlier loans.

Launched by the Prime Minister on April 8, 2015, the PMMY has played a pivotal role in empowering non-corporate, non-farm small and micro enterprises by providing loans of up to Rs 10 lakh. To strengthen support for aspiring entrepreneurs, the Finance Minister announced an increase in the loan limit to Rs 20 lakh during the Union Budget 2024-25 on July 23, 2024. This new limit took effect on October 24, 2024.

Reader Comments

R
Rajesh K
This is such an inspiring story! 👏 It's great to see government schemes actually helping small business owners. More power to Satish and his furniture business. Hope he continues to grow!
P
Priya M
My uncle also got a loan through Mudra Yojana for his textile shop. The process was much simpler than regular bank loans. Happy to see these success stories coming from Tamil Nadu!
S
Suresh V
While the scheme is good, I wish there was more awareness about it in rural areas. Many small shopkeepers in my village don't know about these opportunities. Government should do more outreach.
A
Anitha R
Congratulations to Satish! 🎉 It's not easy to grow a business from scratch. The increased loan limit to 20 lakhs will help even more entrepreneurs now. Hope to see more Tamil Nadu success stories!
K
Karthik N
I appreciate that the article mentions all the loan categories clearly. Many people don't understand the difference between Shishu, Kishore and Tarun loans. Helpful information!
M
Meena S
The repayment terms are quite reasonable too. My sister took a Shishu loan for her beauty parlour and could pay back in small installments without stress. More women should know about this.

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

Tags:
Pradhan Mantri Mudra Yojana Small Business Loans Tamil Nadu Entrepreneurship Satish Avadi PMMY Success
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