A Success story of MUDRA Yojana

Creative ideas, robust planning, tireless working, devotion and dedication are the pillars of a successful
business. But the foundation of any business is established with the help of money. Money flows in the
entire business as blood flows in the human body. Some of the entrepreneurs receive money from their
family as gift, whereas, others lack. There are people who have fine qualities of being a successful
entrepreneur but lack money. To help them fulfill their dreams and become a part of our nation’s
development government of India has launched PMMY- Pradhan Mantri MUDRA Yojana on 8th April
2015. Under this scheme a person can avail loan from nay bank amounting up to Rs. 10.00 lakhs for
business purposes without providing any collateral security. This scheme as proved itself to be a boon
for several entrepreneurs. There has been numerous entrepreneurs who have proved and established
themselves as a successful businessman with the help of MUDRA Yojana. Here we are sharing a success
story of Mudra Yojana, granted by our Alkapuri branch, Vadodara. This is story of Mr. Jayesh Kumar
Panchal. He established a business of new refreshing beverage with the help of MUDRA loan of Rs. 6.00
lakhs from our Alkapuri Branch. The entrepreneurship of Mr. Panchal emerged as a successful business.

Brief introduction of the firm is as under:

Name of Account M/s Vers Boisson Beverages Inc

Constitution Proprietorship Firm Established in 2006
Proprietor Mr. Jayesh Kumar Panchal
Business Manufacturing and trading of ready to serve drink
containing mixture of natural pulp and extracts
Banking with Bank of India since establishment

M/s VersBoisson Beverages Inc. is proprietorship concern. The firm is managed by Mr. Jayesh Panchal.
The firm is engaged in manufacturing of ready to serve drink containing mixture of natural pulp and
extracts and non-alcoholic Carbonated Cocktail beverages.

The proprietor Mr. Jayesh Panchal was previously working with Manpasand Beverages Ltd. at Manjusar
GIDC, Vadodara. Mr. Jayesh Panchal with an appreciable experience in this field planned to manufacture
a new refreshing beverage brand “Boisee” with fruit pulp based carbonated and non-carbonated RTS
(Ready to Serve) drink and cocktail drinks in PET bottles with various volumes. They approached our
Alkapuri branch and requested for working capital limit of Rs. 6.00 lakhs under Mudra Yojana.
With the hard work and commitment of Mr. panchal the firm kept on growing and reaching appreciable
heights. The turnover of the firm was Rs. 29.10 lakhs and it reached to nearly Rs. 100.00 lakhs in the
next year. With the increase in capacity and turnover the working capital limit has been increased from
Rs. 6.00 lakhs to Rs. 20.00 lakhs. The Mudra account was closed and always remained standard. Fresh
CC limit has been granted to the firm under CGTMSE scheme. As per the sales of the current financial
year the turnover of the firm is continuously increasing. The success story of Mr. Panchal is a journey of
an entrepreneur from rags to riches. The financial assistance from our bank under Mudra scheme has
proved itself to be the boon for the firm. It’s an inspiration for all those who have dreams of being a
successful entrepreneur. Hence, we say that lack of money is not a hindrance to succeed in the field of
business because we as bank and government of India is always ready to help those in need. We feel
proud and are always ready to help the genuine entrepreneurs to enter the market and create a
successful story one like Mr. Panchal.