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SSC CHSL 2020 PYQ — Question 35

SSC CHSL - 18th October 2020 - Shift 1 • General Awareness • Q35

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Under which of the following schemes has the Government of India set up a new institution for development and refinancing activities related to micro units?

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Correct answer: A

Explanation

The correct answer is option 1 i.e Pradhan Mantri MUDRA Yojana.

  • Pradhan Mantri Mudra Yojana under the Micro Units Development and Refinance Agency (MUDRA) Bank is a new institution being set up by Government of India for development and refinancing activities relating to micro units.
  • It was announced by the Finance Minister while presenting the Union Budget for FY 2016.
  • The purpose of Mudra is to provide funding to the non-corporate small business sector.
  • Loans worth about Rs 1 lakh crore have been sanctioned to small entrepreneurs under the Pradhan Mantri Mudra Yojana.