MUDRA Yojana and The Rise of Micro-Entrepreneurship

What is MUDRA Loan Scheme by Govt. of India As per NSSO survey (2013), there were around 5.77 Crore small/micro units in the country, engaging around 12 Crore people, mostly individual proprietorship/Own Account Enterprises. Over 60% of units were owned by persons belonging to Scheduled Castes, Scheduled Tribes or Other Backward Classes. Most of these units were outside the formal banking system, and hence were forced to borrow from informal sources or use their own limited owned funds. With an objective to provide the micro entrepreneurs to access credit from…

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