PM Modi’s Birthday: How Mudra Yojana Is Expanding Credit Access

Prime Minister Narendra Modi’s birthday on September 17 is being observed with a focus on public service and welfare initiatives. One of the major schemes associated with his government is the Pradhan Mantri Mudra Yojana (PMMY), which was launched in April 2015 to provide collateral-free institutional credit to non-corporate, non-farm micro and small enterprises.

Under the scheme, loans are offered through four categories: Shishu, Kishor, Tarun and Tarun Plus. The categories cover loans up to ₹50,000, above ₹50,000 to ₹5 lakh, above ₹5 lakh to ₹10 lakh, and above ₹10 lakh to ₹20 lakh, respectively. As of March 27, 2026, 57.79 crore loans amounting to ₹40.07 lakh crore had been sanctioned, according to the Ministry of Finance. About two-thirds of the loans have been sanctioned to women entrepreneurs.