Mudra Bank- A New Way toward Financial Inclusion

Abstract

Finance is very important tool for economic development and for removing poverty. Financial inclusion is much more important in Indian economic policy to driven the sustainable development and inclusive growth. Y.V.Reddy the former RBI governor introduce the concept of finance inclusion in 2005 first time. Financial inclusionmean that financial services has been provided all the weaker section and low income group of the society an affordable cost in transparent manner. The hon’blePrime Minister Shri Narender Modi Ji start Micro Units Development and Refinance Agency Ltd. (MUDRA) Bank Yojana on 8^th April 2015 with a corpus of 20,000 crore Rs. and a credit generation of 3,000 crore. This scheme is opened in all the bank branch all over the country to meet the finance inclusion in India. The Prime Minister Employment Generation Programme (PMEGP) look to create more than four lakh jobs in the fiscal year 2016-17. It has been assumed that (PMEGP) can be a credit linked subsidy Programme that is essential a combination of Rural Employment Generation Programme (REGP) and the Prime Minister Rozagar Yojana (PMGR). The aim of Prime Minister Employment Generation Programme (PMEGP) in rural and urban region, by the way of self-employment in micro enterprises and other eligible project. The aim of this Programme to provide employment continuously and sustainable to make sure the benefits per curing capacities for enhanced.