Question

Loans up to Rs. 50,000 under MUDRA yojana is termed as
1. Tarun
2. Kishor
3. Shishu
4. Arun
5. Non of the above

Answer 1

Correct Answer - Option 3 : Shishu

The correct answer is Shishu.

• Pradhan Mantri MUDRA Yojana(PMMY) was launched on 8 April 2015, for providing loans up to Rs 10 lakh to the non-corporate, non-farm small/micro-enterprises.
• The loans are classified as MUDRA loans under PMMY.
• These loans are given by Commercial Banks, RRBs (Regional Rural Banks), Small Finance Banks (SFBs), MFIs (Micro Finance Institutions), and Non-Banking Financial Companies (NBFCs) in the following three categories:
  • Shishu – Allowed loans up to Rs.50,000
  • Kishore – Allowed loans up to Rs.5,00,000
  • Tarun – Allowed loans up to Rs.10,00,000
• MUDRA Yojana aim is to create an inclusive, sustainable and value-based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security.
• MUDRA stands for Micro Units Development & Refinance Agency Ltd.