Which of the following statements regarding the Pradhan Mantri MUDRA Yojana PMMY is are correct 1 It...........

Indian Economic System(UPPCS) Industry

Which of the following statements regarding the Pradhan Mantri MUDRA Yojana (PMMY) is/are correct?

1. It aims for providing loans up to 10 lakh to the non-corporate, non-farm small/ micro enterprises only.

2. All kind of manufacturing, trading and service sector activities can get MUDRA loan.

3. Micro Units Development & Refinance Agency Ltd (MUDRA) is a re fi nancing Institution that has been set up as wholly owned subsidiary of NABARD.

Select the correct answer using the code given below:

1 and 2 only

2 only

1 and 3 only

3 only

Pradhan Mantri MUDRA Yojana (PMMY) :

It is a scheme launched in 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises.
These loans are classi fi ed as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.
Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur and also provide a reference point for the next phase of graduation/growth.