Latest news with #PMMY
New Indian Express
04-05-2025
- Business
- New Indian Express
Homemaker's inspiring journey to become a successful entrepreneur
KADAPA: 45-year-old homemaker from Kadapa district has become a symbol of empowerment for women. Canara Bank-trained entrepreneur Annam Lakshmi Bhavani, a resident of Chinnamusalreddypalle, rose from modest beginnings to establish a successful jute bag unit. Her journey—from self-taught tailor to successful businesswoman—earned national recognition when Prime Minister Narendra Modi lauded Bhavani during the 10th anniversary of the Pradhan Mantri Mudra Yojana (PMMY). A graduate in Bachelor of Arts, Bhavani spent 11 years as a homemaker after marrying Kiran Prasad, TVS showroom general manager. Determined to support her family, she began learning stitching with a group of neighbourhood women. Their initial interest in jute bag manufacturing faced hurdles, as they struggled to find proper guidance online. In 2019, she turned to the Rural Self Employment Training Institute (RSETI) run by Canara Bank. Although the institute typically required 30 to 35 participants, Bhavani mobilised 21 women through her Development of Women and Children in Rural Areas (DWCRA) group and convinced the bank to conduct the training. Following a 13-day programme, she secured a loan of Rs 2 lakh and launched her jute bag unit, employing local women. When the COVID-19 pandemic brought operations to a halt, Bhavani refused to give up. Instead, she leveraged her DWCRA network to fulfil mask stitching orders from government departments including the District Collectorate and District Rural Development Agency (DRDA). Backed by the lead bank manager, she oversaw the production of nearly 2.5 lakh masks—generating income for 40 neighbourhood women.
Times of Oman
03-04-2025
- Business
- Times of Oman
Around 50% of Mudra accounts in India belong to SC, ST and OBCs; boosting financial independence: SBI Report
New Delhi: The Pradhan Mantri Mudra Yojana (PMMY) is boosting financial independence among marginalized groups as nearly 50 per cent of the 52 crore PMMY accounts belong to individuals from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC), says a report by State Bank of India (SBI). The report further emphasized that PMMY has become a crucial tool in making non-General category entrepreneurs financially self-sufficient. Launched in 2015 by the Prime Minister, the scheme aims to provide transparent, collateral-free, and adequate financial support to small businesses at the grassroots level. Over the years, it has played a pivotal role in transforming the entrepreneurial landscape of the country. The report said, "The impact of PMMY on bringing the hitherto entrepreneurially devoid social groups is commendable, instilling a true sense of financial independence... close to half of the approx. 52 crore PMMY accounts belongs to SC/ST and OBC social classes" One of the key takeaways from the report is the remarkable participation of women in the scheme. Approximately 68 per cent of the total PMMY account holders are women entrepreneurs, reflecting the program's effectiveness in empowering women economically. Additionally, around 11 per cent of the beneficiaries belong to minority communities, further strengthening the scheme's impact on financial inclusion. The report also highlighted the substantial growth in financial support for women entrepreneurs under PMMY. Over the past nine years (FY25 compared to FY16), the per-woman loan disbursement amount has grown at a compound annual growth rate (CAGR) of 13 per cent, reaching Rs 62,679. Simultaneously, the incremental deposits by women have increased at a CAGR of 14 per cent, amounting to Rs 95,269. This trend showcases the scheme's success in fostering financial stability and growth among women borrowers. PMMY, implemented through the Micro Units Development and Refinancing Agency (MUDRA), has revolutionized credit accessibility for small and micro-entrepreneurs. By ensuring easy and collateral-free loans, it has provided millions of aspiring business owners with the financial support needed to turn their ideas into successful ventures. The report acknowledges that PMMY has been a transformative force in enabling marginalized communities to step into entrepreneurship, creating a ripple effect of financial independence and economic development.
Zawya
02-04-2025
- Business
- Zawya
Mudra disbusments are benefiting financially weaker states more: SBI Report
New Delhi: Pradhan Mantri Mudra Yojana (PMMY) disbursements are benefiting financially weaker regions more, improving financial inclusion in underdeveloped states, according to a report by SBI Research. "A financial inclusion metric show Mudra disbursements have a stronger impact on states with lower financial inclusion levels," the report added. The report, which analyzes the impact of PMMY, states that states with a higher share of disbursements to women have significantly shown higher employment creation by women-led MSMEs, further reinforcing the efficacy of targeted financial inclusion policies in fostering economic empowerment and labour market participation. The SBI analysis shows that while the overall diversity (entropy) of Mudra disbursements has become more skewed, this skewness reflects a positive structural shift. The report highlights that the proportions allocated to developed regions have declined, while underdeveloped regions such as Bihar (from 5.67 per cent to 10.97 per cent), UP (from 9.27 per cent to 11.30 per cent), Odisha (from 4.24 per cent to 4.51 per cent), and the North East have experienced significant gains. This demonstrates a strategic reorientation of the Mudra scheme towards regions that need it the most. The Government of India set up Pradhan Mantri Mudra Yojana (PMMY) under the Micro Units Development and Refinancing Agency (MUDRA) to develop and refinance micro units. Launched in 2015, PMMY ensures collateral-free institutional credit up to Rs 20 lakh is provided by Member Lending Institutions (MLIs), i.e. Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs). Further, the report highlights that increasing women's participation in PMMY leads to better financial situations for women borrowers. About 68 percent of account holders under the scheme are women. In the last nine years (FY25 over FY16), while per woman PMMY disbursement amount increased by a CAGR of 13 per cent to Rs 62,679, the per woman incremental deposits increased by a CAGR of 14 per cent to Rs 95,269 branding PMMY an effective power tool for women empowerment at grass roots level, the report observed. © Muscat Media Group Provided by SyndiGate Media Inc. (
