Jharkhand PMMY Beneficiaries Thank Government for Low-Interest Loans
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Synopsis
Celebrating a decade of the PMMY, beneficiaries in Jharkhand share transformative experiences of low-interest loans that have empowered their businesses and lives, showcasing the scheme's significant impact on economic growth.
Key Takeaways
- PMMY has provided collateral-free loans since 2015.
- Beneficiaries report significant positive changes in their lives.
- Government support has revitalized local markets.
- Loans are available in three categories: Shishu, Kishor, and Tarun.
- Success stories from Ranchi and Garhwa highlight the scheme's effectiveness.
Ranchi, April 8 (NationPress) As the Pradhan Mantri Mudra Yojana (PMMY) commemorates its 10th anniversary, numerous beneficiaries from economically disadvantaged backgrounds nationwide are sharing their stories of transformation in both lives and businesses.
Initiated in 2015, the PMMY has been crucial in nurturing grassroots entrepreneurship by providing collateral-free loans to micro and small enterprises. This initiative has empowered individuals from lower economic strata to chase their aspirations for self-sufficiency, enabling them to launch and grow their businesses without the pressure of hefty collateral.
In Ranchi, the capital of Jharkhand, various beneficiaries recounted the significant changes the PMMY has ushered into their lives. The scheme has not only stimulated entrepreneurial ventures among small businesses but also fostered the economic development of the area.
Business proprietors from diverse sectors have expressed their heartfelt thanks to the Central government and Prime Minister Narendra Modi for the beneficial influence the scheme has had on their enterprises and families. The PMMY has not only offered financial assistance but has also revitalized local markets.
Seraj Ahmed shared: "I benefited from PMMY during its inaugural year, and my situation has improved since then. I am also making the most of other government programs. We no longer rely on loans from others; we receive direct financial assistance from the government. Obtaining loans has become significantly easier."
Bablu, another beneficiary, remarked: "I’ve been availing this scheme for the past five years. The process is straightforward, and we even receive subsidies. It’s an excellent scheme because we aren’t dependent on anyone else for financial support. My life has transformed dramatically after obtaining these loans, and our business is flourishing."
Chandan Kumar, a fruit vendor from Ranchi, stated: "I’ve utilized this benefit three times. The most advantageous aspect is that we don’t need to offer any collateral or extensive paperwork. We’re securing loans at remarkably low interest rates, which has provided financial stability in my life. This scheme is genuinely transformative for small enterprises."
In the Garhwa district of the state, similar success stories have emerged, highlighting the extensive impact of the PMMY.
Zahir Khan commented: "It’s fantastic that the scheme has reached its ten-year milestone. I’ve benefited from PMMY loans, and the process is quite simple. Just visit a bank, apply, and you’ll receive a loan at a very low interest rate, which can aid you in launching or expanding your business."
Amit Kumar Shrivastav, another beneficiary, added: "This scheme is especially advantageous for small farmers and business owners like myself. I secured a loan under PMMY at a very low interest rate, which has greatly benefited my business."
The PMMY scheme provides loans across three categories: Shishu, Kishor, and Tarun. The Shishu category encompasses loans up to Rs 50,000, Kishor provides loans ranging from Rs 50,001 to Rs 5 lakh, and Tarun covers loans between Rs 5 lakh and Rs 10 lakh.
The PMMY has been pivotal in encouraging entrepreneurship, promoting financial inclusion, and contributing to the overall economic growth of Jharkhand and the nation. As the scheme celebrates its 10th anniversary, the deep-seated gratitude from beneficiaries reflects its success in altering lives and creating new opportunities for millions.
