Benefits and constraints faced by women in pradhan mantri mudra yojana in lucknow district

Research Article
Garima Singh and Neelma Kunwar
DOI: 
http://dx.doi.org/10.24327/ijrsr.2022.1304.0200
Subject: 
Agriculture and Technology
KeyWords: 
Benefits, Constraints, PMMY, Scheme, Mudra
Abstract: 

The PradhanMantri Mudra Yojana (PMMY) is a scheme launched by the Government of India on April 8, 2015 for providing loans up to Rs. 10 lakh to the non-corporate, non-farm small/micro enterprises. Under PMMY, all banks viz. Public Sector banks, Private Sector Banks, Regional Rural Banks (RRBs), State Co-operative Banks, Urban Co-operative Banks, Foreign Banks and NonBanking Finance Companies (NBFCs)/Micro Finance Institutions (MFIs) – are required to lend to non-farm sector income generating activities below Rs.10 lakh. These loans are classified as Mudra loans under PMMY. For implementing the Scheme, government has set up a new institution named, Mudra (Micro Units Development & Refinance Agency Ltd.), for development and refinancing activities relating to micro units, in addition to acting as a regulator for the micro finance sector, in general. Mudra provides integrated financial support to the micro enterprises sector which includes small manufacturing units, food service units and small industries to name a few. The basic motive of establishing MUDRA is to extend the facility of institutional finance to small business entities involved in trading, manufacturing and service sectors.