The Pradhan Mantri Mudra Yojana (PMMY) was implemented by the Government of India in 2015 to provide collateral free loans up to ______ for facilitating selfemployment.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹10 lakh.
The Pradhan Mantri Mudra Yojana (PMMY) was launched by the Government of India in 2015 to provide collateral-free loans of up to ₹10 lakh to non-corporate, non-farm small/micro enterprises. The goal is to promote entrepreneurship and self-employment, especially among women, SC/ST entrepreneurs, and small businesses.
The loans are provided through:
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Commercial Banks
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Regional Rural Banks (RRBs)
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Small Finance Banks
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Micro Finance Institutions (MFIs)
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Non-Banking Financial Companies (NBFCs)
Under PMMY, loans are categorized into three schemes:
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Shishu – up to ₹50,000
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Kishore – ₹50,001 to ₹5 lakh
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Tarun – ₹5,00,001 to ₹10 lakh