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Chapter No. 1
Introduction to PMMY
Financial Inclusion has been a much felt need
in India for a very long time. A nation with huge
diversity in culture, religion and practices has also
experienced the disparity in Income since ages.
During British rule of year 1858- 1947, Indians
were oppressed and exploited. A nation where
Entrepreneurship has been encouraged since the
time of Vedas, more and more citizens looked for
employment and were not courageous enough to
transform their ideas into ventures. One definite
reason behind such hesitation was the security,
stability and comfort that comes with employment,
but numerous people in India today, do not take
a step to start their own businesses due to lack of
financial support.
India is a country of ambitious people, which
has created business empires like Tata, Reliance,
Adani, Mittal groups, Infosys et cetera. In the year
2020-21, India has seen many companies arrive at
a valuation of more than 1 billion USD and become
Unicorn. Few of these names are Digit, Groww,
Meesho, Urbancompany, Pharmeasy and many
more. It is estimated that India will have more
than 100 homegrown unicorns by end of 2022.
Now this hints towards a bright future for Indian
entrepreneurial scene.
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