Visakhapatnam: ‘Financial literacy aids in enhancing women’s economic status’
Women entrepreneurs from North Coastal AP during GITAM School of Business workshop along with bankers and management experts in Visakhapatnam on Friday
Visakhapatnam : The micro-credit through Pradhan Mantri Mudra Yojana (PMMY) encourages women entrepreneurship, raises earnings and employability, and empowers them financially.
These were some of the points observed by experts from banking and management sector at a workshop organised by GITAM under Indian Council of Social Science Research (ICSSR) project here on Friday.
Briefing about the project, the institution’s School of Business Associate Professor and project principal investigator Radha Raghuramapatruni mentioned that they have conducted empirical study on PMMY’s impact on women entrepreneurs in North Coastal Andhra Pradesh. She informed that after interacting with 765 beneficiaries, the study team found that most rural women engaged in micro enterprises and improved their financial status. Andhra Pradesh Chamber of Commerce Women Entrepreneurship wing chairperson Leela Rani said financial literacy among women population will help avail the government schemes. She advised that women can take a lead to develop micro entrepreneurship using the agricultural products in north coastal districts.
School of Business Professor Manjushri Naidu said the scheme facilitates micro credits. She observed that around 65 percent of its beneficiaries are women in the country and the statistics reflect the scheme’s success in empowering them. Women-led businesses contribute significantly to GDP and bolster the nation`s entrepreneurial ecosystem, she added.
The Small Scale Industries Development Bank of India (SIDBI) assistant general manager N. Rohith observed that PMMY aided the banking sector to penetrate in rural areas.