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Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of the government to “fund the unfunded”. What is the full form of MUDRA? 

Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme of the government to “fund the unfunded”. What is the full form of MUDRA?  Correct Answer  Micro Units Development & Refinance Agency Ltd.

The correct answer Micro Units Development & Refinance Agency Ltd. 

Explanation:

  • The government of India launched the Pradhan Mantri Mudra Yojana (PMMY) scheme to “fund the unfunded”. The aim of the scheme is to bring less funded enterprises to the formal financial system and extending affordable credit to them.
    • The scheme ensures that a small borrower gets credit from all Public Sector Banks such as PSU Banks, Private Sector Banks, Regional Rural Banks, Foreign Banks, Micro Finance Institutions (MFI), Co-operative banks. PM Modi launched the scheme on 8th April 2015. 
    • Any Indian Citizen who has a business plan about any income-generating activity like manufacturing, processing, etc can get Micro Units Development & Refinance Agency Ltd. (MUDRA) loans under Pradhan Mantri Mudra Yojana (PMMY) of up to 10 Lakhs. However, it is applicable to the business plans of the non-farm sector.  

Important Points

  • Under the aegis of Pradhan Mantri MUDRA Yojana, loans are given in three categories: 
    • Shishu: Loans are given up to the need for 50,000/-.
    • Kishor: Loans are given above 50,000/- and up to 5 lakh.
    • Tarun:  It covers loans above 5 lakh and up to 10 lakh.

Related Questions

Consider the following statements: 1. Pradhan Mantri Fasal Bima Yojana - 'Per Drop More Crop'. 2. Pradhan Mantri Krishi Sinchayi Yojana - Providing insurance cover to crops. 3. Pradhan Mantri Gram Sadak Yojana - All-Weather Road connectivity to unconnected villages. 4. Pradhan Mantri MUDRA Yojana - Aims to provide formal access of financial facilities to non-corporates, small businesses. Which of the statements given below is/are correct? 
Which of the following schemes are covered under Jan Suraksha Yojana? A. Pradhan Mantri Jan Dhan Yojana B. Pradhan Mantri Suraksha Bima Yojana C. Pradhan Mantri Jeevan Jyoti Bima Yojana D. Atal Pension Yojana Choose the correct answer:
Consider the following statements related to the Pradhan Mantri Jeevan Jyoti Bima Yojana. 1. The age limit for PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) is minimum of 18 years and maximum of 60 years. 2. The annual premium for PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) is Rs 550. The premium could vary depending on the prevailing tax rates, age and location. 3. This scheme is implemented under the Ministry of Finance. Which of the above statement is/are correct?
Which of the following statements is true about Pradhan Mantri MUDRA Yojana (PMMY)? (1) Under this scheme a loan up to 15 lakhs to the non-corporate, non-farm small/micro enterprises can be provided. (2) These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs.
Which of the following is/are social security scheme(s) ? 1.Atal Pension Yojana 2. Pradhan Mantri Jeevan Jyoti Bima Yojana 3. Pradhan Mantri Suraksha Bima Yojana Select the correct answer using the code given below :
On January 15, 2021, the Government of India launched the third phase of Pradhan Mantri Kaushal Vikas Yojana. Which of the following points is/are INCORRECT related to this phase? 1. This scheme launched in 600 districts across all states of India. 2. This scheme envisages training of 1 crore Indian youth over a scheme period of 2020-2021 with an outlay of Rs. 120 billion. 3. The third phase was spearheaded by the Ministry of Skill Development and Entrepreneurship (MSDE). 4. Around 729 Pradhan Mantri Kaushal Kendras, empanelled non-PMKK training centres and over 200 ITIs will be rolling out training under this phase. Select the correct answer using the code given below. (A) 1 only (B) 2 only (C) 3 and 4 (D) 4 only
What is the rank of Tamil Nadu in terms of loans disbursed to women borrowers since the inception of the Pradhan Mantri Mudra Yojana (PMMY)?
Under Pradhan Mantri Mudra Yojana (PMMY) loans are categorised into Shishu, Kishor and Tarun categories. What is the limit of Shishu loan?
Over 29.55 crore loans amounting to Rs. 15.52 lakh crore have been sanctioned till July 2021, under Pradhan Mantri Mudra Yojana (PMMY) across the country since its inception in which year?
Pradhan Mantri MUDRA Yojana (PMMY) is the subsidiary of which of the following?