In how many categories are loans provided under the MUDRA loan scheme?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 3.
Under the MUDRA (Micro Units Development and Refinance Agency) loan scheme, loans are categorized into three main categories:
1. Shishu: For loans up to ₹50,000.
2. Kishore: For loans ranging from ₹50,001 to ₹5,00,000.
3. Tarun: For loans ranging from ₹5,00,001 to ₹10,00,000.
These categories help in providing appropriate financial support based on the scale and needs of the business.