Vol. 5 No. 2 (2021)
Articles

A Descriptive Study of the Role of MUDRA Funding-Shishu over Different States

Published 2021-08-11

Abstract

In an emerging economy like India where unemployment is a matter of big concern for the smooth and sustainable development, MSME are the backbone. To address the financial problems faced by small units a scheme called MUDRA was launched by Honorable Prime Minister Shri Narendra Damodar Modi on April 8, 2015. MUDRA stands for Micro Units Development and Refinancing Agency. The designated loans under the scheme are provided by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. The borrower can visit any of the above banks and can place his/her request for their requirements. Although government has taken a fair amount of good initiative to give an equal platform to every citizen but still a huge lacuna persists. Schemes like MUDRA, STAND UP INDIA, SEED FUNDING, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to name a few are there, but how many of us actually knows about them is a big question. Data relating to MUDRA funding been collected from https://www.mudra.org.in/PMMYReport for every state year wise under three categories- SHISHU, TARUN and KISHORE. Performance of BIMARU states with respect to others can give an insight about their development. An attempt is made in the present paper to throw light upon the number of accounts opened over different years and the average amount received under the three categories-SHISHU, TARUN and KISHORE.