Page 24 - MUDRA ANUBHAV

Chapter No. 2

REVIEW OF LITERATURE

The survey done by NSSO in 2013 revealed that
there were 5.77 crore small/ micro units in the
country which have employed around 12 crore

people, among these units mostly are individual
proprietorship / ‘Own Account Enterprises’.
Around micro 60% of these units are owned
by persons belonging to weaker sections of the

society, the scheduled castes, scheduled tribes,
Other Backward Classes, minorities, and women.
Majority of these units do not have access to the
formal banking system and are forced to borrow

from informal sources or use their limited own
funds. Micro Units Development & Refinance
Agency Limited (MUDRA) was incorporated under
the companies Act, 2013 and launched on April 08,

2015, by the Hon’ble Prime Minister as a wholly
owned subsidiary company of SIDBI, with NBFI
registration from RBI. MUDRA has been working
towards bridging this gap. By creating a good

architecture of Last Mile Credit Delivery, MUDRA
aims to increase the confidence of the aspiring but
unemployed youth of the country to become first
generation entrepreneurs as also of existing small

businesses to expand their activities.

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