Access to Finance: The Role of Pradhan Mantri Mudra Yojana Scheme in Supporting Women Entrepreneurs in Virudhunagar
Abstract
This study investigates how the Pradhan Mantri Mudra Yojana (PMMY) can help women entrepreneurs in Virudhunagar, Tamil Nadu, have better access to capital. Despite their potential to contribute to economic growth, women entrepreneurs in the region face considerable obstacles in obtaining financial resources, typically due to a lack of collateral, inadequate financial literacy, and societal restraints. PMMY, delivered through the Indian authorities, intends to cope with these impediments by offering collateral-free loans to micro, small, and medium-sized companies (MSMEs). This observation investigates the extent of consciousness, accessibility, and utilization of PMMY amongst women marketers in Virudhunagar, in addition to how efficiently the program has satisfied their funding desires and facilitated business increases. Data has been collected through surveys and in-depth interviews with a wide sample of female entrepreneurs from different sectors. The data show that, while PMMY has improved access to credit, many women are still unaware of the scheme or have difficulty navigating the application process. The record emphasizes the advantages for human beings who've efficiently used PMMY loans, together with greater commercial enterprise balance, creation of employment, and neighborhood monetary contributions. This examination emphasizes the significance of supportive financial frameworks which include PMMY in selling ladies marketers and assisting sustainable regional improvement.
How to Cite This Article
R Maharaja, Dr. S Ganapathy, Dr. P Amarjothi (2024).
Access to Finance: The Role of Pradhan Mantri Mudra Yojana Scheme in Supporting Women Entrepreneurs in Virudhunagar
. International Journal of Management and Organizational Research (IJMOR), 3(6), 38-43.