How much maximum amount of loan can be taken from Pradhan Mantri Mudra Yojana (2015)?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹10 lakh.
Under the Pradhan Mantri Mudra Yojana (PMMY) launched in 2015, the maximum loan amount that can be availed is ₹20 lakh, thanks to the introduction of the “Tarun Plus” category.
Here’s a breakdown of the categories and their loan limits:
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Shishu: up to ₹50,000
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Kishore: ₹50,001 to ₹5 lakh
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Tarun: ₹5 lakh to ₹10 lakh
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Tarun Plus: ₹10 lakh to ₹20 lakh – available only to entrepreneurs who have successfully repaid a previous Tarun loan
Initially, the ceiling was ₹10 lakh, but after the Finance Minister’s Budget announcement in 2024, it was increased to ₹20 lakh, expanding opportunities for small business growth .