Evaluating the Role of PMMY in Inclusive Finance: A Social Category-Wise Analysis of Beneficiaries in Bihar (2016–2024).

The Pradhan Mantri MUDRA Yojana (PMMY) was launched in April 2015 to enhance financial inclusion by providing collateral-free loans to micro and small entrepreneurs. Bihar, being a socially diverse state with a significant population of Scheduled Castes (SC), Scheduled Tribes (ST), Other Backward Classes (OBC), and General categories, presents a unique case for evaluating inclusive finance. Bihar is among the best performing states for providing credit facility to small enterprises to build entrepreneurial capacity through PMMY loan Scheme. This study analyzes the distribution of PMMY loan accounts and disbursement amounts across social categories in Bihar between 2016–17 and 2023–24.The study analyzes the disbursement trend and patterns of MUDRA loans among SC, ST, OBC, and General beneficiaries in Bihar using secondary data from PMMY and SLBC Bihar reports. The Study applies percentage share analysis, growth indicators (AGR, CAGR), and comparative statistics (ANOVA) to evaluate inclusiveness. The study explores whether the scheme is equitably reaching different caste groups and highlights disparities in loan allocation across social categories. The findings are expected to reveal whether PMMY has equitably extended financial access across social groups or whether disparities persist. Results show considerable variations in loan disbursement patterns, with OBC and General categories dominating the share, while SC and ST groups remain underrepresented. The study suggests targeted policy measures to ensure inclusive and equitable access to PMMY loans for marginalized communities.