Consider the following statements about Pradahn Mantri Mudra Yojana ndash 1 The MUDRA...........

Economic Affairs Types of Banks and Banking

Consider the following statements about Pradahn Mantri Mudra Yojana –

1. The MUDRA loan has the objective of ‘funding the unfunded’ for seeding new enterprises and expanding existing new units.

2. The special focus is on providing financial support to women entrepreneurs, for both financial inclusion and empowerment.

Which of the statement given above is / are correct?

1 only

2 only

Both 1 & 2

Neither 1 nor 2

छोटे Courses बड़े Results

Master Types of Banks and Banking

Prepare through Micro-courses

Try Now

Explanation:

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal www.udyamimitra.in . 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.