Jharkhand's Dhaneshwar Saw credits his rise from common man to entrepreneur to Mudra Yojana
Ranchi, May 25
The story of the transformation of Dhaneshwar Saw, a Hazaribagh-based commoner, to a noted entrepreneur in his locality, is a testament to the potential and success of the Pradhan Mantri Mudra Yojana, a flagship of the Modi government launched a decade ago to give wings to the Micro, Small, and Medium enterprises as well as enterprising individuals.
As the PMMY schemes have been around for more than a decade, the success stories of common individuals and small-time enterprises are coming to the fore.
By providing easy, collateral-free loans, this scheme has transformed the lives of thousands of people across the country.
Dhaneshwar Saw, a resident of Pakrar village in Jharkhand's Hazaribagh district, is among many successful entrepreneurs who leveraged PMMY funds to start their own businesses and create a new identity for themselves.
In 2017, Dhaneshwar Saw secured a loan of ₹5 lakh from the Bank of India under the scheme. He owned a small shop at the time but harboured big dreams, aiming to achieve great things.
Today, he successfully operates three shops in Hazaribagh's vegetable market and on the main road.
His success also got direct recognition from Prime Minister Narendra Modi at a public event.
Dhaneshwar Saw explains that the scheme instilled in him the confidence to grow. He noted that the most significant feature of this scheme is the availability of loans without the need for collateral or guarantees.
"This serves as a major relief for small traders, as previously, expanding a business was extremely difficult due to a lack of capital and the inability to provide collateral. Furthermore, by repaying the entire loan on time, he successfully earned and maintained the trust of the bank," he explained.
Today, his success has become a source of inspiration for the entire region.
He used to ride a bicycle, but now arrives at his shops in his own car. He has built his own home, provided a better life for his family, and married off his three daughters in elaborate celebrations, with great pomp and festivity.
Mohammad Shahid, a local resident and Saw's known acquaintance, recalled their close association for the past 40 to 45 years and recalled how the Mudra scheme brought about a monumental change in Saw's life.
Notably, the Mudra Yojana completed 10 years of operation on 8th April, last year. The scheme, by removing the burden of collateral and simplifying access, has laid the foundation for a new era of grassroots entrepreneurship.
— IANS
Reader Comments
Happy for Dhaneshwar ji, really. But I wish the article also mentioned how many people are struggling with loan recovery or interest rates. Not everyone's story turns into a fairy tale like this. Still, good to see a positive example from Jharkhand. 🙏
Great to see a success story from rural India. Collateral-free loans are a game-changer for small entrepreneurs who have no property to pledge. This is how you actually build an economy from the ground up. Hope more people in similar situations take advantage of this scheme.
I run a small business in UP and Mudra Yojana literally saved me during covid. The paperwork is manageable and no one asks for gold or property deeds. Modi ji's scheme might have flaws but for small tradesmen, this is a lifeline. Dhaneshwar ji's story resonates with so many of us.
This is a genuinely uplifting story. The fact that he could marry off his three daughters with confidence shows how economic empowerment changes family dynamics too. No collateral, no barriers—just pure entrepreneurship. India needs more such models in rural areas. 🌟
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