Pradhan Mantri MUDRA Yojana is aimed at
[amp_mcq option1=”bringing the small entrepreneurs into formal financial system” option2=”providing loans to poor farmers for cultivating particular crops” option3=”providing pensions to old and destitute persons” option4=”funding the voluntary organizations involved in the promotion of skill development and employment generation” correct=”option1″]
This question was previously asked in
UPSC IAS – 2016
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.