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Pradhan Mantri MUDRA Yojana is aimed at
- 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 organization involved in the promotion of skill development and employment generation
Correct answer is option 'A'. Can you explain this answer?
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Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entreprene...
The correct answer is option 'A', which states that the Pradhan Mantri MUDRA Yojana is aimed at bringing small entrepreneurs into the formal financial system. Let's understand this in detail:
Pradhan Mantri MUDRA Yojana (PMMY) is a flagship scheme launched by the Government of India in April 2015. It is an initiative to provide financial support to small and micro enterprises in the country. The primary objective of this scheme is to promote entrepreneurship and create employment opportunities for the youth and other individuals who have limited access to formal credit.
Under the MUDRA Yojana, loans are provided to individuals who want to start or expand their small businesses. These loans are categorized into three categories based on the loan amount: Shishu (up to Rs. 50,000), Kishore (up to Rs. 5 lakh), and Tarun (up to Rs. 10 lakh). The loans are collateral-free, meaning that borrowers do not need to provide any security or guarantor for availing the loan.
Now, let's discuss why option 'A' is the correct answer:
Bringing the small entrepreneurs into formal financial system:
- The MUDRA Yojana aims to bring small entrepreneurs into the formal financial system by providing them with access to credit. Many small businesses, especially those in the informal sector, face challenges in accessing loans from traditional banks due to lack of collateral or formal documentation.
- By providing loans through MUDRA, these entrepreneurs can establish a credit history and build a relationship with formal financial institutions. This helps them in accessing loans in the future and availing other financial services such as insurance, savings accounts, etc.
- The scheme also focuses on promoting financial literacy among borrowers, educating them about various financial products and services, and enhancing their financial management skills.
In conclusion, the Pradhan Mantri MUDRA Yojana is aimed at bringing small entrepreneurs into the formal financial system by providing them with access to credit. This initiative plays a crucial role in promoting entrepreneurship, creating employment opportunities, and fostering economic growth in the country.
Pradhan Mantri MUDRA Yojana (PMMY) is a flagship scheme launched by the Government of India in April 2015. It is an initiative to provide financial support to small and micro enterprises in the country. The primary objective of this scheme is to promote entrepreneurship and create employment opportunities for the youth and other individuals who have limited access to formal credit.
Under the MUDRA Yojana, loans are provided to individuals who want to start or expand their small businesses. These loans are categorized into three categories based on the loan amount: Shishu (up to Rs. 50,000), Kishore (up to Rs. 5 lakh), and Tarun (up to Rs. 10 lakh). The loans are collateral-free, meaning that borrowers do not need to provide any security or guarantor for availing the loan.
Now, let's discuss why option 'A' is the correct answer:
Bringing the small entrepreneurs into formal financial system:
- The MUDRA Yojana aims to bring small entrepreneurs into the formal financial system by providing them with access to credit. Many small businesses, especially those in the informal sector, face challenges in accessing loans from traditional banks due to lack of collateral or formal documentation.
- By providing loans through MUDRA, these entrepreneurs can establish a credit history and build a relationship with formal financial institutions. This helps them in accessing loans in the future and availing other financial services such as insurance, savings accounts, etc.
- The scheme also focuses on promoting financial literacy among borrowers, educating them about various financial products and services, and enhancing their financial management skills.
In conclusion, the Pradhan Mantri MUDRA Yojana is aimed at bringing small entrepreneurs into the formal financial system by providing them with access to credit. This initiative plays a crucial role in promoting entrepreneurship, creating employment opportunities, and fostering economic growth in the country.
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Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entreprene...
Pradhan Mantri MUDRA Yojana is aimed at bringing sole-proprietors or entrepreneurs of Small & Medium Enterprises into formal financial system.
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Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer?
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Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer?.
Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer?.
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Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Pradhan Mantri MUDRA Yojana is aimed ata)Bringing the small entrepreneurs into formal financial systemb)Providing loans to poor farmers for cultivating particular cropsc)Providing pensions to old and destitute personsd)Funding the voluntary organization involved in the promotion of skill development and employment generationCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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