Paper Details

Entrepreneurs who are running MSMEs (Micro, Small and Medium Enterprises) comprising millions of partnership or proprietorship firms running as small manufacturing units, vegetable or fruit vendors, shopkeepers, repair shops, food-service units, truck operators, small industries, machine operators, food processors, artisans as well as other, in rural and urban areas whose financing requirements are less than Rs.10 Lakh. Lack of financial assistance for this sector is the main obstacle to the expansion of entrepreneurship in MSMEs. Less than 15% of bank credit is given to MSMEs, indicating that the banks are providing this sector with little assistance (MSMEs). Large portions of MSMEs run unregistered businesses. They do not technically fall within the purview of taxes and do not keep regular Books of Accounts. As a result, it's challenging for the banks to lend to them. The majority of this industry does not use outside financing sources. A legislative law was used by the GoI (Government of India) to establish the MUDRA (Micro Units Development & Refinance Agency) Bank. The refinancing and development of all microfinance institutions (MFIs) that lend to small and micro business entities involved in manufacturing, commerce, and service activities is the responsibility of this agency. These activities enable the emergence of entrepreneurship. In order to shed light on the MUDRA of the Indian government, the current study covers its introduction, goals, mission, vision, duties, products, benefits, and significant data of PMMY (Pradhan Mantri MUDRA Yojana).

PMMY, MUDRA, MSMEs, Entrepreneurs, MFIs.