Effectiveness of Mudra Loan in Southern Kerala

S. Jayashree, S. Sumitha, Vivek V Nair and Saragadam Mounika Maduri

Mudra loan is a catalytic tool for every entrepreneur in India. The prime minister of India implemented this scheme on 8 April 2015 which has great impact on our Indian economy. It increased the standard of living of people of India by providing them with the capital and infrastructure needed to start their business. This scheme involves three types of loans which are articulated according to the need of the business, namely Shishu, Kishore, and Tarun. This study shows that people of India faced problems to avail this loan mainly due to the inefficiency in submission of the project report. This scheme enables the beneficiaries to obtain a net total up to Rs. 10 lakh. The government targeted the people who have a desire to start a new micro business unit or develop their existing business unit. This scheme is launched for rural development and it can be said that the scheme has success but not as to expected range by the government. The study deduced that PMMY is a notable project taken by the government of India.A big chance in the area of microfinance financial inclusions through PMMY expands the opportunities for credit requirement and recapitalize the fund, Thanks to PMMY project introduced by the central government.

Volume 12 | 04-Special Issue

Pages: 1794-1799

DOI: 10.5373/JARDCS/V12SP4/20201664