Pradhan Mantri MUDRA Yojana is aimed at

bringing the small entrepreneurs into formal financial system

providing loans to poor farmers for cultivating particular crops

providing pensions to old and destitute persons

funding the voluntary organizations involved in the promotion of skill development and employment generation

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This question was previously asked in

UPSC IAS – 2016

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Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Government of India to provide loans up to ₹10 Lakh to non-corporate, non-farm small/micro enterprises. It aims to fund the ‘unfunded’ segment of the economy, which includes small manufacturers, shopkeepers, fruits/vegetable vendors, truck operators, etc., thereby bringing them into the formal financial system.

MUDRA (Micro Units Development and Refinance Agency) is a scheme providing access to formal financial credit for micro and small enterprises.

Under MUDRA Yojana, loans are given in three categories: ‘Shishu’ (up to ₹50,000), ‘Kishore’ (₹50,001 to ₹5,00,000), and ‘Tarun’ (₹5,00,001 to ₹10,00,000). The scheme aims to promote entrepreneurship and generate employment by facilitating credit flow to micro-enterprises.

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