Question

Pradhan Mantri MUDRA Yojana is aimed at

• A. bringing the small entrepreneurs into formal financial system
• B. providing loans to poor farmers for cultivating particular crops
• C. providing pensions to old and destitute persons
• D. funding the voluntary organizations involved in the promotion of skill development and employment generation

Answer 1

The correct option is A bringing the small entrepreneurs into formal financial system

Micro Units Development and Refinance Agency Ltd. [MUDRA] is an NBFC supporting development of micro enterprise sector in the country. MUDRA provides refinance support to Banks / MFIs / NBFCs for lending to micro units having loan requirement upto 10 lakh. MUDRA provides refinance support to micro business under the Scheme of Pradhan Mantri MUDRA Yojana.