MUDRA – A GAME CHANGER IN INDIAN FINANCIAL INCLUSION
MUDRA Scheme under Pradhan Mantri Mudra Yojana (PMMY) has providing financial inclusion and assistance to MSMEs in India. In order to study the growth rate of loan amount sanctioned to the regional, state and category wise in India, the states were clustered into four regions as follows North, North East, South and West. Data sourced from RBI, Hand Book Statistics and MUDRA. Growing economy has constrains like unemployment, financial instability for entrepreneurs, starting up new ventures have been barriers. PMMY Schemes provides credit support and exclusively to motivate the entrepreneurs. Shishu holds the record of most loan amount sanctioned and loan account opening in study period. PMMY scheme reduces the poor and new entrepreneur’s financial burden and also helps development of existing entrepreneurs through the schemes of Shishu, Kishor and Tarun.