Pradhan Mantri Mudra Yojana (PMMY) was launched on 8 April 2015 as a flagship initiative to provide collateral-free institutional credit to non-corporate and non-farm micro and small enterprises across India. The scheme was introduced with the vision of “Funding the Unfunded” by extending formal financial assistance to entrepreneurs who traditionally depended on informal lending sources charging excessively high interest rates. PMMY therefore emerged as a major instrument for strengthening financial inclusion and entrepreneurship-led development.