Bank of India Celebrates 10 Years of Transformative Impact Through Pradhan Mantri Mudra Yojana
Varahi media.com online news,Mumbai, April 13th, 2025: Bank of India proudly celebrates a decade of success with the Pradhan Mantri Mudra Yojana (PMMY), marking its 10th anniversary on
Varahi media.com online news,Mumbai, April 13th, 2025: Bank of India proudly celebrates a decade of success with the Pradhan Mantri Mudra Yojana (PMMY), marking its 10th anniversary on April 8, 2025. Launched to boost micro-entrepreneurship in India, the scheme has revolutionized MSME financing by enabling easy and collateral-free access to credit under three distinct categories—Shishu, Kishore, and Tarun.
Over the past ten years, PMMY has played a crucial role in supporting grassroots businesses and nurturing the spirit of entrepreneurship. From Rs. 18,923 crores disbursed to over 11.59 lakh borrowers in the first five years, the bank has now achieved cumulative disbursements of Rs. 71,364 crores to 43.65 lakh beneficiaries—an impressive growth of nearly 300% in both volume and value.
Of special note is the support extended to women entrepreneurs, who constitute more than 25% of the total beneficiaries under the scheme. Additionally, the recent hike in the loan ceiling to Rs. 20 lakh under the Tarun Plus category (as announced in the 2024 Union Budget) is expected to further boost the growth of larger micro-enterprises.
During the COVID-19 pandemic, the Bank supported PMMY customers through the Emergency Credit Line Guarantee Scheme (GECL), helping many overcome liquidity crises. Thanks to timely interventions, over 60% of PMMY accounts were saved from becoming NPAs.
To further ease access to finance, Bank of India has introduced a fully digital journey for Mudra loans—from application to sanction and disbursement. Borrowers are also being equipped with the Mudra Card for convenient use of funds.
As part of its 10th anniversary celebration, Bank of India has launched a comprehensive promotional campaign to raise awareness about PMMY. This includes social media promotions, indoor and outdoor advertisements, and engaging success story reels displayed across major platforms and bank branches.
Bank of India remains committed to supporting India’s micro-entrepreneurs and contributing to national economic growth through the continued expansion of the Pradhan Mantri Mudra Yojana.
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