Pradhan Mantri MUDRA Yojana is aimed at
[UPSC Civil Services Exam – 2016 Prelims]
(a) bringing the small entrepreneurs into formal financial system
(b) providing loans to poor farmers for cultivating particular crops
(c) providing pensions to old and destitute persons
(d) funding the voluntary organizations involved in the promotion of skill development and employment generation
Answer: (a)
Explanation:
The Pradhan Mantri MUDRA Loan is a flagship scheme designed to provide affordable credit to micro and small enterprises, aiming to integrate small entrepreneurs into the formal financial system.
It offers loans up to 10 lakh to non-corporate, non-farm small/micro-enterprises.
The scheme includes three loan products:
- Shishu for loans up to Rs. 50,000,
- Kishore for loans from above Rs. 50,000 to Rs. 500,000, and
- Tarun for loans from above Rs. 500,000 to Rs. 10,00,000.
The MUDRA yojana covers various sectors, including the Land Transport Sector, Community, Social & Personal Service Activity, Food Products Sector, and Textile Products Sector.
