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A person is looking to set up a small fruit vending business in a city and needs loan for the purpose. Under which government scheme should he/she apply for the loan?
Pradhan Mantri Ujjawala Yojana
Pradhan Mantri Mudra Yojana
Pradhan Mantri Awas Yojana.
PradhanMantri Shahari Rozgar Yojana.
Pradhan Mantri Ujjawala Yojana is for LPG subsidies. Pradhan Mantri Awas Yojana is for providing home to the needy and there is no scheme by the name of Pradhan Mantri Shahari Awas Yojana. Micro Units Development & Refinance Agency Ltd. (MUDRA) is a new institution set up by Government of India to provide funding to the non-corporate, non-farm sector income generating activities of micro and small enterprises whose credit needs are below 10 Lakh. Under the aegis of Pradhan Mantri MUDRA Yojana (PMMY), MUDRA has created three products i.e. 'Shishu', 'Kishore' and ‘Tarun’ as per the stage of growth and funding needs of the beneficiary micro unit. These schemes cover loan amounts as below: Shishu: covering loans up to 50,000 Kishore: covering loans above 50,000 and up to 5,00,000 Tarun: covering loans above 5,00,000 and up to 10,00,000 All Non-Corporate Small Business Segment (NCSBS) comprising of proprietorship or partnership firms running as small manufacturing units, service sector units, shopkeepers, fruits/vegetable vendors, truck operators, food-service units, repair shops, machine operators, small industries, food processors and others in rural and urban areas, are eligible for assistance under Mudra. Bank branches would facilitate loans under Mudra scheme as per customer requirements. Loans under this scheme are collateral free loans.
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