Mudra Yojana Scheme Targeting Women:
Many women in India, especially those in rural and semi-urban locations haven’t yet got the empowerment they need. Indian Government strives to see that women empowerment is spread across the nation even in these times when those women in rural areas are looked down and considered weaker. A nation that doesn’t support women in terms of realizing their basic needs will struggle to see progress and development of the economy. The MUDRA Yojana scheme has a vision to see that the status of women is improved by facilitating credit facilities to encourage them to begin new business ventures and empower them with financial security. Through the MUDRA Yojana scheme, a special preference is given to women whereby a specific amount of money is put aside to be funded to women entrepreneurs, also referred to as Women Preneurs.
Being an Entrepreneur as a Woman:
Back in those days, women didn’t have the capital to set up businesses and this was a contributing factor to making their way into the entrepreneurship world. Today in India, more and more women have started climbing the ladder in the entrepreneur sphere and they can compete with men. It requires determination, courage, grit, and vision to succeed as a women entrepreneur and the rural woman doesn’t have these personalities or business trails. However, when the government comes in with a scheme that supports women and aims to break that gender parity in entrepreneurship, it not only empowers them but also gives them the grit, courage, and determination that they need. This is what the MUDRA initiative works to ensure.
The Role of Banks in Helping Women Entrepreneurs:
Banks are working out lending strategies under the Pradhan Mantri Mudra Yojana scheme guidelines to see that women take full advantage of the credit facilities. Banks are increasing the number of loans they offer to women under the MUDRA scheme. Women are also taking advantage of the MUDRA loans to help their husbands to purchase automobiles like trucks and auto rickshaws, something that takes the family a step further meaning the development of economy grows in different ways.