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Chapter No. 6
PERCEPTION STUDY OF FINANCIAL
INSTITUTIONS UNDER PMMY
Financial Institutions are backbone of any economy.
From the apex bank of the country, Reserve Bank
of India, to the smallest Micro Finance Units,
they play a pivotal role in transforming the state
of development in nation. It is with the support of
financial institutions that any country can make
plans for development and growth. A country
with strong operations of banking and financial
services strides towards the path of advancement
with much ease and stability. For any ambitious
objective which aims to change the facets of the
nation, be in any area, the need of full-fledged
support of banking and financial system cannot be
compromised.
Pradhan Mantri Mudra Yojana (PMMY) was
launched with an objective to provide necessary
financial support to the Non-Corporate Small
Business Sector. Through this scheme, the
Government of India, and the Small Industries
Development Bank of India, which owns and
supports the MUDRA scheme, aims to partner with
various Financial Institutions in order to reach the
bottom of the pyramid businesses, where reach of
financial resources and support is scarce.
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