MUDRA (Micro Units Development and Refinance Agency Ltd Bank): Funding to Unfunded.

Abstract

India is the largest emerging market for Micro, Small & Medium Enterprises which is growing very fast and plying a crucial role in providing large employment opportunities at rural India. The MSMSE’s are the pillar of economic development & growth of a country however India need to enhance the investment to the small business units to mininmise the demand &supply gap for funding because lack of adequate finance is the biggest challenge faced by theses units. Thus, The Indian Prime Minister Narendra Modi launched the promised Micro Units Development and Refinance Agency Ltd (MUDRA) to fund the unfunded. This paper takes in-depth overview on Purpose of Mudra, Products & Schemes offered by Mudra, Mudra Card, Eligibility Criteria For Mudra Refinance/Loan, PMMY Maharashtra State current Progress and benefits to the small entrepreneurs by Mudra.