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Consider the following statement with reference to PM-MUDRA yojana (PMMY):
1. MUDRA is a refinancing institution and does not lend directly to entrepreneurs/ individuals.
2. It aims of provide a collateral free loan of 20 lakh to promote entrepreneurship among the new generation.
3. MUDRA loans are offered in three categories Shishu', 'Kishore' and 'Tarun' which signifies the stage of growth or development and funding needs of the borrowers.
Which of the statement given above is/are correct?
  • a)
    3 only
  • b)
    1 and 3 only
  • c)
    2 and 3 only
  • d)
    1 and 2 only
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statement with reference to PM-MUDRA yojana (PM...
  • PM-Mudra yojana (PMMY) launched to create an inclusive, sustainable and value based entrepreneurial culture. MUDRA provides refinance support to micro business under the Scheme of Pradhan Mantri MUDRA Yojana. MUDRA does not lend directly to the micro entrepreneurs / individuals, these loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. Hence statement 1 is correct.
  • It provides collateral-free loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. Hence statement 2 is not correct.
  • Under the aegis of PMMY, MUDRA loans are classified into 3 categories 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. Hence statement 3 is correct. o Shishu: covering loans upto Rs. 50,000 o Kishor: covering loans above Rs.50,000/- and upto Rs. 5 lakh o Tarun: covering loans above Rs. 5 lakh to Rs. 10 lakh
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Consider the following statement with reference to PM-MUDRA yojana (PMMY):1. MUDRA is a refinancing institution and does not lend directly to entrepreneurs/ individuals.2. It aims of provide a collateral free loan of 20 lakh to promote entrepreneurship among the new generation.3. MUDRA loans are offered in three categories Shishu, Kishore and Tarun which signifies the stage of growth or development and funding needs of the borrowers.Which of the statement given above is/are correct?a)3 onlyb)1 and 3 onlyc)2 and 3 onlyd)1 and 2 onlyCorrect answer is option 'B'. Can you explain this answer?
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