A Study of Pradhan Mantri Mudra Yojana

Abstract

MUDRA- Micro Unit Development and Refinance Agency has been the strongest endeavor of our Hon. Prime Minister to bank the unbanked population. It has been launched on 8th April, 2015, after the success of Pradhan Manrti Jan Dhan Yojana. This scheme started for Non-Corporate Small Business Sectors (NCSBS) to encourage them to expand their capabilities and operations. NCSBS plays a very important role in growth, employment and socio-economic development of the country. The main objective of this scheme to provide financial assistance to all those small business and entrepreneurs, who are having direct impact on overall growth of the economy. Under Pradhan Mantri Mudra Yojana, our Prime Minister launched Mudra Bank, which will benefits small entrepreneurs and also act as a regulator for Micro Finance Institutions. This research article therefore, is an attempt to analyses the objectives, offerings and impact of MUDRA Yojana on Indian economy.