"I was launched in 2015 for providing loans up to ₹10 lakh to the non-corporate, nonfarm small/micro enterprises. One of my products is Tarun". Identify me.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Pradhan Mantri MUDRA Yojana.
The scheme described is the Pradhan Mantri MUDRA Yojana (PMMY). Launched in 2015, PMMY aims to provide financial support to non-corporate, non-farm small and micro enterprises. Under this scheme, loans up to ₹10 lakh are provided by commercial banks, RRBs, small finance banks, MFIs, and NBFCs. The loans are classified into three categories—Shishu (up to ₹50,000), Kishor (₹50,001 to ₹5 lakh), and Tarun (₹5 lakh to ₹10 lakh). The goal of PMMY is to promote entrepreneurship, generate employment, and support income generation among small business owners, especially those who lack access to traditional banking services.