Consider the following statements MUDRA in an agency for providing easy loans up to Rs 10 lakhs...........

Indian Economic System(PCS) Industry

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Consider the following statements :

MUDRA in an agency for providing easy loans up to Rs. 10 lakhs to micro A. 1, 2 and 3 and smallentrepreneurs
SC/ST entrepreneurs will be given priority in providing loans under MUDRA.
MUDRA is a development and regulatory agency for medium scale industry.

Which of the above statement(s) is/are true?

This questions was previously asked in

PCS Previous year General Studies paper (2015)

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1 only

2 and 3

1 and 2

3 only

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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. 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.