A Study and Review of Pradhan Mantri Mudra Yojana (Pmmy) in the State of Maharashtra
2019; RELX Group (Netherlands); Linguagem: Inglês
ISSN
1556-5068
Autores Tópico(s)Banking Sector Performance and Management
ResumoIn economy like India with a population of more than 1.25 billion cannot sustain, if it does not have vibrant small, medium and micro enterprises to create jobs for the burgeoning population. Today small, micro and medium scale provide employment to more than 20% of the working population in India. So it is necessary that this MSME enterprises are provided with government support in the form of loans, training, exposure and support in marketing of their products. The major problems faced by small businesses or micro enterprises includes, lack of information, financial illiteracy, entry level policies, high cost, lack of infrastructure, lack of financial access and technologies barriers. Government of India came up with MUDRA loans in 2015 to support this enterprises by giving collateral free loans. The schemes has been successful in providing loans to MSME sector. Also it was found that over 93% of the mudra loans disbursed are below Rs.50000. In the light of this issues, it is necessary to study and review PMMY in the state of Maharashtra. This project will seek to understand the status of Mudra loans in the state of Maharashtra. It is found that Mudra scheme has been fairly successful in the state of Maharashtra, but more need to be done for financial inclusion of all categories of people.
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