Growth of Pradhan mantri mudra yojna (Pmmy) in Haryana state

Abstract

Small scale businesses are the source of livelihood for people in India. People depend upon organised as well as unorganised sector for their loan, but most of the businesses depend upon unorganised sector loan. The unorganised sector loan is very unplanned and creating problem for poor people to fall in debts. For developing countries like India the unorganised sector plays a important role for developing businesses. In 2015 government of India launched Pradhan Mantri Mudra Yojna known as Mudra for developing micro and small enterprises. Pradhan Mantri Mudra Yojna is providing financial support and important schemes of financial inclusion. Under this inclusive scheme, one can take loan upto Rs.10 lakh to in initiate their business. This paper highlights on the development of Mudra yojna in Haryana state for developing small and medium enterprises also focuses on product offered by banks to enterprises for developing weaker sections of the society especially priority sector.