Role of MUDRA Loan in Development of Entrepreneurship opportunity in East Singhbhum District of Jharkhand

Abstract: Finance is major requirement to start and biggest bottleneck of growth for any business. It becomes more critical for non-corporate and unregistered sector specially non-farm, micro and small businesses to start and run business as they do not have access to finance from structures sources. Such enterprises have to depend on private money lenders, who charge wishful interest and keep disproportionate mortgages for unlimited time. MUDRA has been introduced to addresses these issues and meet the finance requirements of such micro and small enterprises. It has an objective of "Fund the Unfunded". MUDRA has been introduced as Prime Minister Mudra Yojana (PMMY) with special attention to weaker section of society, women and minorities. East Singhbhum is a Tribal dominant district of Jharkhand with almost half of population as women and majority of this population is economically weak. This paper is an attempt to study how MUDRA has impact on Development of Entrepreneurship opportunity in East Singhbhum District of Jharkhand.

Keywords: MUDRA, PMMY, Entrepreneurship Development, Economic Development, Employment in Jharkhand etc.