Pradhan Mantri MUDRA Yojana is aimed at
- AOption (a)
Bringing the small entrepreneurs into formal financial system
- BOption (b)
Providing loans to poor farmers for cultivating particular crops
- COption (c)
Providing pensions to old and destitute persons
- DOption (d)
Funding the voluntary organizations involved in the promotion of skill development and employment generation
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Correct answer
Bringing the small entrepreneurs into formal financial system
Why this answer is correct
The correct answer is Bringing the small entrepreneurs into the formal financial system.
Key Points
- Pradhan Mantri MUDRA Yojana:
The scheme was launched on 8th April 2015 by Prime Minister Narendra Modi.
- It is a flagship scheme that is aimed to extend affordable credit to micro and small enterprises i.e to bring the small entrepreneurs into the formal financial systems.
- It provides loans up to 10 lakh to the non-corporate, non-farm small/micro-enterprises.
- There are three products under the Pradhan Mantri MUDRA loan:
- Covering loan of up to Rs. 50,000 under Shishu.
- Covering loan from above Rs. 50,000 to Rs. 500,000 under Kishore.
- Covering loan from above 500,000 to Rs.10,00,000 under Tarun.
- Sectors Covered under MUDRA yojana:-
- Land Transport Sector
- Community, Social & Personal Service Activity
- Food Products Sector
- Textile Products Sector