Question
What is the maximum loan given under PM Mudra yojna ?
Solution
Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015, to enable income generating small business enterprises to have access to loans. Accordingly, lending institutions would finance micro entrepreneurs up to ₹ 10 lakh. PMMY is a national mission aimed at increasing the entrepreneurial activity of existing small business and encouraging first generation entrepreneurs. Micro Units Development and Refinance Agency Limited (MUDRA), is a refinance institution set up by the government for development of micro units by extending funding support to MSMEs.
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