Giridih (Jharkhand), April 8 – The Pradhan Mantri Mudra Yojana (PMMY) is emerging as a strong support pillar for small entrepreneurs in the Giridih district of Jharkhand, enabling hundreds of people to start their own ventures and move towards financial independence.
Under the scheme, collateral-free loans have facilitated the establishment of various small businesses, including retail shops, tailoring units, mineral water plants, e-rickshaws, and street vending enterprises. This has significantly strengthened the spirit of self-reliance among locals, particularly among women, who are increasingly stepping into entrepreneurship.
Munni Kumari, a beneficiary residing on Ashram Road in Giridih town, shared her success story. She said that with the help of financial assistance under the Prime Minister Employment Generation Programme (PMEGP) and PMMY, she was able to set up a mineral water plant. The business is now generating a steady income and has also created employment opportunities for others in the area.
Her father-in-law, Upendra Singh, said that Munni had long aspired to start her own business, but the family lacked the financial resources to support her. "Later, we learned about the scheme and applied through the District Industries Office. The loan was approved by the Bank of India, and now the entire family is involved in the business. We are earning well and planning to expand further," he said.
Munni’s husband, Rahul Kumar, also acknowledged the impact of the scheme on their lives. “I took a loan under the PMEGP through Bank of India. I thank Prime Minister Narendra Modi for this initiative. My loan was approved within 24 hours. Earlier, our financial condition was not good, but now it has improved significantly,” he said.
Sarvottam Kumar, Branch Manager at Bank of India in Giridih, highlighted the broader impact of the scheme. He said that over the past few years, thousands of beneficiaries, including a large number of women, have availed Mudra loans.
“In Jharkhand alone, Bank of India has disbursed loans worth around Rs 2,370 crore, helping people achieve self-employment. Many beneficiaries are now running successful businesses,” he noted.
Launched on April 8, 2015, the PMMY provides collateral-free loans of up to Rs 20 lakh to non-corporate, non-farm micro and small enterprises. The scheme aims to promote income-generating activities across sectors such as manufacturing, trading, and services.
In Giridih, the scheme has not only accelerated self-employment but also transformed lives, with many individuals who once struggled for livelihood now becoming self-reliant entrepreneurs.