The Prime Minister said that MUDRA scheme is aimed at “funding the unfunded”. “MUDRA will instill a new confidence in them that the country is ready to support them in their efforts that are contributing so heavily to the task of nation building,” he said.
“Supporting the small entrepreneurs of India is the biggest way to help the Indian economy grow and prosper,” Modi said.
The Prime Minister expressed confidence that within a year’s time, the major banks would also adopt the MUDRA model.
“The established financial systems will soon move to the MUDRA-model of functioning, i.e. to support entrepreneurs that give employment to a large number of people using least amount of funds.”