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Eduncle posted an MCQ
October 18, 2019 • 15:02 pm 0 points
  • UGC NET
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The following statements relate to Mudra Yojana :

The following statements relate to Mudra Yojana : Statement I : Mudra is an NBFC supporting development scheme of micro enterprise sector in the country. It provides refinance support to Bank/MFIs for lending to micro units having loan requirement up to Rs 10 lakh. Statement II : Mudra has created different products/schemes for refinancing loans. These interventions have been named 'Shishu', 'Kishor' and 'Tarun' to signify the state of growth/development and funding needs of the beneficiary micro unit/entrepreneur. Which of the following options is correct ?

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    Eduncle Best Answer

    Pradhan Mantri MUDRA Yojana (PMMY) is an NBFC supporting development of micro enterprise sector in the country. MUDRA provides refinance support to Banks / MFIs for lending to micro units having loan requirement upto 10 lakh. MUDRA provides refinance to micro business under the Scheme of Pradhan Mantri MUDRA Yojana. These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs. So both the statements are correct.
    MUDRA has created three products namely 'Shishu', 'Kishore' and 'Tarun' to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.
    So both the statements are correct.

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