A Study of the Impact of the Mudra Loan Scheme On Women from Underprivileged Sections in Pune District

Anant Shivaji Ipper; Pradip Thombare

A Study of the Impact of the Mudra Loan Scheme On Women from Underprivileged Sections in Pune District

Author(s)	Anant Shivaji Ipper, Dr. Pradip Thombare
Country	India
Abstract	Financial exclusion remains a significant impediment to socio-economic mobility for underprivileged women, particularly those in India's vast informal economy. The Pradhan Mantri Mudra Yojana (PMMY) was launched as a flagship intervention to address this by providing collateral-free credit, aiming to "fund the unfunded." This paper investigates the impact of the PMMY on women beneficiaries from underprivileged sections in Pune District, Maharashtra. It adopts a "marketing" framework, assessing the scheme's effectiveness not only as a financial product but in its ability to empower its users by enhancing their business capabilities and socio-economic standing. A quantitative, cross-sectional study was conducted using a structured survey of 141 PMMY women beneficiaries in Pune. The data was analyzed using descriptive statistics, reliability analysis (Cronbach's Alpha), Multiple Linear Regression, and Analysis of Variance (ANOVA). The findings reveal a significant, positive relationship between PMMY loan utilization (specifically graduating to the Kishor category) and increased monthly business revenue (H1 supported). Furthermore, the analysis confirmed a differential impact on empowerment (H2 supported). While the loan significantly enhanced beneficiaries' financial autonomy, household decision-making power, and marketing capabilities, it had no statistically significant impact on their perceived standard of living, asset accumulation, or household nutrition. This study confirms a critical paradox: PMMY succeeds as a credit disbursal tool but fails to translate income gains into tangible well-being. The findings imply that PMMY must evolve from a product-centric model to a customer-centric one, bundling credit with essential financial literacy and marketing training to achieve its full potential for holistic socio-economic upliftment.
Keywords	Pradhan Mantri Mudra Yojana (PMMY), Women Entrepreneurship, Financial Inclusion, Socio-Economic Impact, Marketing, Pune District, Microfinance
Field	Business Administration
Published In	Volume 7, Issue 1, January-February 2026
Published On	2026-02-21

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A Study of the Impact of the Mudra Loan Scheme On Women from Underprivileged Sections in Pune District

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