Role of Mudra Bank on Make in India

Manufacturing sector plays an important in the development of an economy. In the earlier days primary sector played an important role in the Gross Domestic production. But this contribution was changed and now tertiary sector plays an important. Still manufacturing sector plays a very role in the economy. Indian currency goes to foreign countries due to more set up of multinational companies. The objective of this paper is to show the need of make in India which is an initiative taken by our Prime Minister, Mr. Narendra Modi with an intention to boost the domestic manufacturing industry and to attract foreign investors to invest money into the Indian economy. Make in India initiative will boost the domestic manufacturing industry and to attract foreign investors to invest money into the Indian economy. This paper shows the need and contribution of Micro Units Development and Refinance Agency Bank, which is setup by the Government of India to promote foreign trade and to encourage entrepreneurship in India. Its objective is to develop micro units and to provide the funding to the non corporate small business sector. There is no fix Interest rate in MUDRA loan. According to source banks are charging around Base Rate + 1% to 7% minimum. The interest rate can be higher according to risk and customer profile and it can be different in all banks.