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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:

A

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Explanation:

The MUDRA (Micro Units Development and Refinance Agency) scheme was launched by the Government of India to provide financial support to small and micro-enterprises. It aims to enable these entrepreneurs to access credit from formal financial institutions such as banks, non-banking financial companies (NBFCs), and microfinance institutions (MFIs). The scheme provides loans of different amounts, known as MUDRA loans, based on the stage of growth and financing needs of the businesses.

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