Question

Which of the following is not true about Pradhan Mantri Mudra Yojana? 1. Pradhan Mantri MUDRA Yojana (PMM

Q: Answer-Which of the following is not true about Pradhan Mantri Mudra Yojana? 1. Pradhan Mantri MUDRA Y...

Under the aegis of Pradhan Mantri Mudra Yojana PMMY, MUDRA has created products schemes. The interventions have been named Shishu, Kishore and Tarun to signify the stage of growthdevelopment and funding needs of the beneficiary micro unitentrepreneur and also provide a reference point for the next phase of graduationgrowth to look forward to Shishu covering loans up to 50,000- Kishor covering loans above 50,000- and up to 5 lakh. Tarun covering loans above 5 lakh and up to 10 lakh.

Y is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. 2. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. 3. Under the aegis of PMMY, MUDRA has created three products namely 'Shishu', 'Kishore' and 'Tarik' to signify the stage of growth / development and funding needs of the beneficiary. 4. The maximum loan amount that can be sanctioned under ‘Kishore’ Scheme is 5 lakhs.

A Only 2 is incorrect as NBFCs can not grant Mudra Loans

B Only 4 is incorrect as maximum loan under Kishore Scheme is 7 lakhs

C Both 2 and 4 are incorrect

D Only 3 is incorrect as the third category of the loan is Tarun

E Both 3 and 4 are incorrect

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