Key Points

Bhagyashree Shailesh Munde, a resident of Beed, overcame financial hardship and launched her own business with support from the Pradhan Mantri Mudra Yojana.

Facing economic constraints and unable to pursue her entrepreneurial aspirations, Bhagyashree came across advertisements for the Mudra loan and decided to apply.

With the sanctioned amount, she successfully established a Common Service Centre.

Speaking to IANS on Monday, Bhagyashree said she had long aspired to become self-reliant and start her own enterprise, but lacked the financial means.

The Mudra scheme gave her the confidence to move forward.

She said that the loan not only improved her financial condition but also enabled her to support her family.

She expressed gratitude to Prime Minister Narendra Modi for initiating the scheme.

A key feature of the Mudra Yojana is that it does not charge any processing fees.

Loans are made available through various banks and financial institutions.

The scheme primarily aims to promote small and medium-sized enterprises, thereby strengthening the national economy.

Launched by Prime Minister Narendra Modi on April 8, 2015, the Mudra Yojana offers loans under four categories: Shishu: up to Rs 50,000; Kishore: Rs 50,001 to Rs 5 lakh; Tarun: Rs 5,00,001 to Rs 10 lakh; Tarun Plus: up to Rs 20 lakh.

Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of the Central government. The scheme facilitates micro credit/loan up to Rs. 20 lakh to income generating micro enterprises engaged in the non-farm sector in manufacturing, trading or service sectors including activities allied to agriculture such as poultry, dairy, beekeeping, etc.

The scheme provides financial assistance extended by Member Lending Institutions to the non-corporate, non-farm sector income generating activities of micro and small entities.

These micro and small entities comprise of millions of proprietorship/partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits/vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others.

- IANS