Consider the following statement about Pradhan Mantri

Solution

• Pradhan Mantri Mudra Yojana was launched in April 2015 by the Prime Minister, the Mudra Yojana aims to enable Micro Finance Institutions (MFIs), Non-Banking financial institutions/Companies (NBFCs), Small Finance Banks, RBRs, Commercial Banks, Cooperative Banks, etc. to provide Low Rate Loans to eligible entities. • Banks have extended loans of Rs 18.6 trillion to about 34.4 crore beneficiaries so far under the Pradhan Mantri Mudra Yojana (PMMY). • Women make up over 68% of the Mudra account holders and 22% of the loans were disbursed to new entrepreneurs. • 51% of total sanctioned loans have gone to beneficiaries in the SC/ST/ OBC categories. • The scheme was launched by the Prime Minister on April 8, 2015. • Mudra loans are extended to three categories of borrowers — Sishu, Kishore and Tarun. • Customers seeking loans up to Rs 50,000 come under the Sishu category; the Kishore category, above Rs 50,000 and up to Rs 5 lakh; and the Traun category loan above Rs 5 lakh and up to Rs 10 lakh.