{"id":1874,"date":"2024-03-30T01:03:48","date_gmt":"2024-03-29T19:33:48","guid":{"rendered":"https:\/\/lotusarise.com\/qna\/?p=1874"},"modified":"2024-04-03T07:09:34","modified_gmt":"2024-04-03T01:39:34","slug":"q-pradhan-mantri-mudra-yojana-is-aimed-at","status":"publish","type":"post","link":"https:\/\/lotusarise.com\/qna\/upsc\/q-pradhan-mantri-mudra-yojana-is-aimed-at","title":{"rendered":"Q.\u00a0Pradhan Mantri MUDRA Yojana is aimed at"},"content":{"rendered":"\n<ul class=\"mcq wp-block-list\">\n<li>bringing the small entrepreneurs into formal financial system<\/li>\n\n\n\n<li>providing loans to poor farmers for cultivating particular crops<\/li>\n\n\n\n<li>providing pensions to old and destitute persons<\/li>\n\n\n\n<li>funding the voluntary organizations involved in the promotion of skill development and employment generation<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Answer:<\/strong>&nbsp;<strong>(a) bringing the small entrepreneurs into formal financial system<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"pradhan-mantri-mudra-yojana\"><strong>Pradhan Mantri MUDRA Yojana<\/strong>:<\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PMMY was launched by the Government of India&nbsp;<strong>in 2015.<\/strong><\/li>\n\n\n\n<li>The&nbsp;<strong>PMMY provides collateral-free institutional loans<\/strong>&nbsp;up to<strong>&nbsp;Rs. 10 lakhs for small business enterprises.<\/strong><\/li>\n\n\n\n<li>Mudra schemes are designed&nbsp;to bring enterprises into the formal financial system or to&nbsp;<strong>\u201cfund the unfunded\u201d.<\/strong><\/li>\n\n\n\n<li><strong>Funding Provision:<\/strong>\n<ul class=\"wp-block-list\">\n<li>It is provided by&nbsp;<strong>Member Lending Institutions (MLIs)<\/strong>&nbsp;i.e.&nbsp;<strong>Scheduled Commercial Banks (SCBs),&nbsp;Regional Rural Banks (RRBs),<\/strong>&nbsp;Non-Banking Financial Companies (NBFCs) and&nbsp;<strong>Micro Finance Institutions (MFIs).<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Types:<\/strong>\n<ul class=\"wp-block-list\">\n<li>The loan can be used for income-generating activities in the&nbsp;<strong>manufacturing, trading, services sector, and&nbsp;<a href=\"https:\/\/lotusarise.com\/agriculture-infrastructure-fund-upsc\/\">agriculture<\/a>.<\/strong><\/li>\n\n\n\n<li>There are three loan products under PMMY:\n<ul class=\"wp-block-list\">\n<li><strong>Shishu<\/strong>&nbsp;(loans up to Rs. 50,000)<\/li>\n\n\n\n<li><strong>Kishore<\/strong>&nbsp;(loans between Rs. 50,000 and Rs. 5 lakh)<\/li>\n\n\n\n<li><strong>Tarun<\/strong>&nbsp;(loans between Rs. 5 lakh and Rs. 10 lakh).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Eligibility:<\/strong>\n<ul class=\"wp-block-list\">\n<li>Any Indian citizen&nbsp;who has a business plan for a non-farm sector income generating activity such as manufacturing, processing, trading, or the service sector and&nbsp;whose credit need is less than Rs 10 lakh can approach&nbsp;either a bank, MFI, or NBFC&nbsp;for availing of Micro Units Development &amp; Refinance Agency Ltd.&nbsp;(MUDRA) loans under PMMY.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>There is&nbsp;<strong>no subsidy for the loan given under PMMY<\/strong>.&nbsp;However, if the loan proposal is linked to some&nbsp;Government&nbsp;scheme, wherein the&nbsp;Government is providing capital subsidies, it will be eligible under PMMY also.<\/li>\n\n\n\n<li><strong>Steps Taken for the Improvement of the Scheme:<\/strong>\n<ul class=\"wp-block-list\">\n<li>Provision for online applications through&nbsp;<strong>udyamimitra portal.<\/strong><\/li>\n\n\n\n<li>Some&nbsp;<strong>Public Sector Banks (PSBs)<\/strong>&nbsp;have put end-to-end digital lending for&nbsp;<strong>automated sanctions under PMMY.<\/strong><\/li>\n\n\n\n<li>Intensive publicity campaigns by&nbsp;<strong>PSBs and Mudra Ltd. for increased visibility of the scheme<\/strong>&nbsp;amongst the stakeholders.<\/li>\n\n\n\n<li>Nomination of&nbsp;<strong>Mudra Nodal Officers<\/strong>&nbsp;in PSBs.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Answer:&nbsp;(a) bringing the small entrepreneurs into formal financial system Pradhan Mantri MUDRA Yojana:<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1,3],"tags":[38],"years":[57],"class_list":["post-1874","post","type-post","status-publish","format-standard","hentry","category-upsc","category-prelims","tag-indian-economy","years-57"],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"UPSC"},{"value":3,"label":"Prelims"}],"post_tag":[{"value":38,"label":"Indian Economy"}],"years":[{"value":57,"label":"2016"}]},"featured_image_src_large":false,"author_info":{"display_name":"LotusArise","author_link":"https:\/\/lotusarise.com\/qna\/author\/team-lotusarise"},"comment_info":0,"category_info":[{"term_id":1,"name":"UPSC","slug":"upsc","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":1269,"filter":"raw","cat_ID":1,"category_count":1269,"category_description":"","cat_name":"UPSC","category_nicename":"upsc","category_parent":0},{"term_id":3,"name":"Prelims","slug":"prelims","term_group":0,"term_taxonomy_id":3,"taxonomy":"category","description":"","parent":1,"count":1251,"filter":"raw","cat_ID":3,"category_count":1251,"category_description":"","cat_name":"Prelims","category_nicename":"prelims","category_parent":1}],"tag_info":[{"term_id":38,"name":"Indian Economy","slug":"indian-economy","term_group":0,"term_taxonomy_id":38,"taxonomy":"post_tag","description":"","parent":0,"count":225,"filter":"raw"}],"_links":{"self":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/comments?post=1874"}],"version-history":[{"count":0,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1874\/revisions"}],"wp:attachment":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/media?parent=1874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/categories?post=1874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/tags?post=1874"},{"taxonomy":"years","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/years?post=1874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}