PM Mudra Yojana boosts self-employment in Giridih, empowers women entrepreneurs
Giridih, April 8
The Pradhan Mantri Mudra Yojana is emerging as a strong pillar of support for small entrepreneurs in Jharkhand's Giridih district, enabling hundreds of people to start their own ventures and move towards financial independence.
Under the scheme, collateral-free loans have facilitated the establishment of various small businesses, including retail shops, tailoring units, mineral water plants, e-rickshaws, and street vending enterprises. This has significantly strengthened the spirit of self-reliance among locals, particularly among women, who are increasingly stepping into entrepreneurship.
Munni Kumari, a beneficiary residing on Ashram Road in Giridih town, shared her success story. She said that with the help of financial assistance under the Prime Minister Employment Generation Programme (PMEGP) and PMMY, she was able to set up a mineral water plant. The business is now generating a steady income and has also created employment opportunities for others in the area.
Her father-in-law, Upendra Singh, said that Munni had long aspired to start her own business, but the family lacked the financial resources to support her. "Later, we learned about the scheme and applied through the District Industries Office. The loan was approved by the Bank of India, and now the entire family is involved in the business. We are earning well and planning to expand further," he said.
Munni's husband, Rahul Kumar, also acknowledged the impact of the scheme on their lives. "I took a loan under the PMEGP through Bank of India. I thank Prime Minister Narendra Modi for this initiative. My loan was approved within 24 hours. Earlier, our financial condition was not good, but now it has improved significantly," he said.
Sarvottam Kumar, Branch Manager at Bank of India in Giridih, highlighted the broader impact of the scheme. He said that over the past few years, thousands of beneficiaries, including a large number of women, have availed Mudra loans.
"In Jharkhand alone, Bank of India has disbursed loans worth around Rs 2,370 crore, helping people achieve self-employment. Many beneficiaries are now running successful businesses," he noted.
Launched on April 8, 2015, the PMMY provides collateral-free loans of up to Rs 20 lakh to non-corporate, non-farm micro and small enterprises. The scheme aims to promote income-generating activities across sectors such as manufacturing, trading, and services.
In Giridih, the scheme has not only accelerated self-employment but also transformed lives, with many individuals who once struggled for livelihood now becoming self-reliant entrepreneurs.
— IANS
Reader Comments
Great to see schemes actually reaching people. My cousin in Dhanbad also got a Mudra loan for his auto spare parts shop. The process was surprisingly smooth. When government schemes work as intended, it changes lives.
As someone who studies development economics, the data point of Rs 2,370 crore disbursed in Jharkhand alone is significant. Creating self-employment is crucial for a state with its economic profile. Hope the success stories continue.
While the intent is good, the real test is sustainability and loan repayment. I've heard stories from other districts where people struggle after the initial phase due to market saturation. The government must also provide skill training and market linkages.
This is me! I am so grateful for this opportunity. From a housewife to a business owner, the journey has been challenging but rewarding. My message to other women: don't hesitate, take the step. The support is there.
जय हिन्द! This is what 'Sabka Saath, Sabka Vikas' looks like on the ground. When a woman becomes financially independent, it uplifts the entire family and community. More such stories from every district, please!
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