The Pradhan Mantri Mudra Yojana (PMMY), which recently marked its 10th anniversary, continues to empower millions across India. In Jharkhand’s Latehar district, once known for its Naxal influence, the scheme is not only transforming lives but reshaping the identity and role of women in society.
Launched in 2015 by Prime Minister Narendra Modi, the PMMY provides collateral-free loans to small and micro-entrepreneurs, enabling them to start or expand their businesses.
In the Balumath area of Latehar district, several women have availed loans under the Mudra Yojana and are now running successful ventures such as oil mills, flour mills, RO water plants, and puffed rice (murhi) processing units. These small businesses have not only empowered them but have also created employment opportunities for others in the community.
IANS spoke to some of the women beneficiaries who expressed deep gratitude towards Prime Minister Modi and the government for initiating schemes that have helped them break traditional barriers and find financial independence.
“I want to thank Modi ji from the bottom of my heart,” said one woman entrepreneur.
“Earlier, we were just housewives with no recognition. Today, we have our own businesses, we are being interviewed, and people are taking notice of us. This is because of the opportunities provided by the government.”
Another beneficiary, Meena Devi, shared her journey.
“I joined a self-help group and took a Mudra loan. I used to be a housewife, but now I earn and contribute to my family. It has changed our lives.”
Maya, another woman from the region, took a small loan of Rs 5,000 to begin mushroom farming. With the profits, she expanded her business and even purchased tractors to scale up her farming operations.
“Getting the loan was easy, and I never thought I could do so much. I’m grateful for this opportunity,” she said.
Nitu, another beneficiary, said, “The schemes launched by Prime Minister Modi have truly given us identity and purpose. Today, we are not dependent on anyone and are able to support our families.”
It’s not just women who have benefited from the scheme. Rajendra Sao, a returnee migrant worker, narrated how the Mudra Yojana helped him restart his life after the pandemic.
“During the lockdown, I returned to my village with no savings. But through the Mudra Yojana, I took a loan and started my own small business. I no longer have to borrow from others. It’s a relief and a matter of pride.”
Sanjeev Kumar, Lead District Manager of Latehar, told IANS that the scheme has played a vital role in promoting entrepreneurship in the region.
“Under the PM Mudra Yojana, loans are being provided without collateral, and women in particular are taking the lead in using these funds effectively. Many have become self-reliant and are inspiring others to follow their path.”
The transformation in Latehar stands as a testament to how government-backed financial inclusion schemes can drive social change, especially in remote and previously underserved regions.
The area where once fear and insurgency kept women confined to their homes, today entrepreneurship and empowerment have opened new doors. These stories from Latehar reflect a broader movement across India, where access to credit and government support are helping individuals realise their potential and shape a better future for their families and communities.
As the Mudra Yojana enters its second decade, the voices from Latehar send a powerful message: given the right tools and opportunities, even the most marginalised communities can rise, thrive and lead.
