FINANCIAL INSOLVENCY AMONG PUBLIC SECTOR BANKS AFTER THE IMPLEMENTATION OF MUDRA
Authors: Muskan Agrawal, Dr. Abdul Wajid
MBA (FINANCIAL MANAGEMENT) Student, Galgotias School of Finance and Commerce, agarwalmuskan20012@gmail.com
Assistant Professor, School of Finance and Commerce, Galgotias University, abdul@galgotiasuniversity.edu.in
ABSTRACT
The term MUDRA stands for “Micro Units Development and Refinance Agency” Limited, which was introduced by Prime Minister Shri. Narendra Modi on 8th April, 2015 as “Pradhan Mantri Mudra Yojana”. This initiative aims to provide loans up to Rs. 10 lakhs to non-farm micro enterprises, as small businesses often struggle to secure financing. MUDRA Yojana offers a simple and efficient process for funding these "unfunded" businesses. It has the potential to drive significant progress towards a developed India, and its allocation was doubled in the 2017-18 Union Budget, with a focus on supporting marginalized groups. Currently, small, micro and medium scale enterprises employ over 20% of India's working population, underscoring the need for government support through loans, exposure, and marketing assistance. This research article examines the role of financial inclusion in promoting social and economic growth and explores the effectiveness of the Pradhan Mantri Mudra Yojana in achieving its objectives.
This study analysis the financial inclusion in the social and economic growth of the nation cannot be overlook. It access the affordability and useful financial services to the lower section and lower income group of people in economy. The government started Mudra yojana mainly concerned with the non- farming micro enterprises, with credit needs are less than Rs.10 lakhs. The purpose of this research article is to study the conception of Pradhan Mantri Mudra Yojana and analyze its progress and performance.
The present study is based on the secondary data. Secondary data have been accumulated from published previous research paper. This paper is also an attempt to know about the financial insolvency among public sector banks.
