Title: Promotion of entrepreneurship through accessibility of formal micro credit in emerging countries - a case study of India

Authors: V. Sandya Rani; N. Sundaram

Addresses: Department of Commerce, School of Social Sciences and Languages, Vellore Institute of Technology, Vellore-632014, Tamil Nadu, India ' Department of Commerce, School of Social Sciences and Languages, Vellore Institute of Technology, Vellore-632014, Tamil Nadu, India

Abstract: Entrepreneurship is an economic phenomenon that makes unemployed people self-employed in society. Microfinance is the practice of providing small amounts of essential financial services to the unbanked or impoverished population in a nation, such as credit, deposits, and insurance, and is a growth-driving factor of entrepreneurship in the economy. The present study is aimed at an analysis of India's largest formal microcredit scheme, which accounts for one fourth of the nation's population, namely the Pradana Mantry Mudra Yojana for the period of 2015-2021. The authors of the report sought to assess how well the program was working toward its goals. However, the study discovered a gradual drop in the beneficiary rate of underprivileged sections, women, and new entrepreneurs in the scheme's total beneficiaries. This is the major concern of the scheme in India.

Keywords: micro credit; entrepreneurship; PMMY; MUDRA; formal micro credit.

DOI: 10.1504/IJENM.2024.137428

International Journal of Enterprise Network Management, 2024 Vol.15 No.1, pp.1 - 16

Received: 27 Jun 2022
Accepted: 22 Aug 2022
Published online: 19 Mar 2024 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article