(MENAFN- IANS) Balrampur, Sep 17 (IANS) In Chhattisgarh's Balrampur district, the Pradhan Mantri Mudra Yojana (PMMY) is transforming lives and empowering local entrepreneurs to scale new heights. On the occasion of Prime Minister Narendra Modi's birthday, two small business owners, Vinesh Pal and Amit Kesar,i on Wednesday shared their inspiring success stories and expressed heartfelt gratitude to him for launching a scheme that has redefined their livelihoods.

Pal, a footwear manufacturer from Ramanujganj, had been running a small-scale business making and selling shoes and slippers. However, limited financial resources kept his business from growing. That changed when he came across the PM Mudra Yojana. He applied for a loan at the Central Bank of India and received Rs 5 lakh - without any collateral.

With the loan, he purchased new machinery, quality raw materials, and expanded his inventory. Today, his business is thriving - not only in Ramanujganj but in nearby towns and villages as well. He has also created employment for four local youth, becoming a source of inspiration for others in the community.

Thanking Prime Minister Modi, Pal said: "The Mudra Yojana is a blessing for small businesses like mine. It has given me the strength to dream bigger and achieve financial independence. I encourage other youth to explore such government schemes and build their future with courage and hard work. I want to wish PM Modi on his birthday."

Similarly, Kesari, who had been repairing bicycles for years, also turned his small shop into a flourishing business. Thanks to a Rs 7 lakh loan under the same scheme, he purchased new bicycles, spare parts, and modern repair equipment, significantly enhancing both his services and income.

Kesari now employs two full-time workers and is optimistic about expanding even further.

"Earlier, I could only do basic repairs due to a lack of tools and resources. But after receiving the Mudra loan, I upgraded my entire setup. Now, customers from other villages are also coming to my shop," he said.

Wishing PM Modi on his 75th birthday, Kesari added: "Under PM Modi ji's leadership, small business owners like me are no longer struggling. We are moving forward with confidence. I thank him from the bottom of my heart for this opportunity."

The PMMY launched on April 8, 2015 by Prime Minister Modi, celebrates 10 glorious years of empowering small and micro-entrepreneurs across India. Aimed at fostering financial inclusion, it provides easy collateral-free loans up to Rs 10 lakh for non-corporate and non-farm income-generating activities. To strengthen support for aspiring entrepreneurs, Finance Minister Nirmala Sitharaman announced an increase in the loan limit to Rs 20 lakh during the Union Budget 2024-25 on July 23, 2024. This new limit took effect on October 24, 2024. These loans are extended through banks, NBFCs, MFIs, and other financial institutions.

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