Consider the following statements:

MUDRA, Micro Units Development & Refinance Agency Ltd., is a non-government\'s financial institution.

It lends directly to micro-entrepreneurs through its MUDRA scheme.

Which of the statements given above is/are correct?

Question

Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015 for providing loans up to Rs.10 lakh to the non-corporate, non-farm small/micro-enterprises.
It provides funding to the non-corporate small business sector through various last-mile financial institutions like Banks, Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs).
MUDRA, which stands for Micro Units Development & Refinance Agency Ltd., is a government\'s financial institution. It does not lend directly to micro-entrepreneurs/individuals.
MUDRA has created three products, i.e. \'Shishu\', \'Kishore\' and ‘Tarun’, as per the growth and funding needs of the beneficiary micro-units.
Shishu: Covering loans up to Rs. 50,000.
Kishore: Covering loans above Rs. 50,000 and up to Rs. 5 lakh.
Tarun: Covering loans above Rs. 5 lakh and up to Rs. 10 lakh.

GKToday Admin · Accepted Answer

Neither 1 nor 2

Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015 for providing loans up to Rs.10 lakh to the non-corporate, non-farm small/micro-enterprises.
It provides funding to the non-corporate small business sector through various last-mile financial institutions like Banks, Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs).
MUDRA, which stands for Micro Units Development & Refinance Agency Ltd., is a government\'s financial institution. It does not lend directly to micro-entrepreneurs/individuals.
MUDRA has created three products, i.e. \'Shishu\', \'Kishore\' and ‘Tarun’, as per the growth and funding needs of the beneficiary micro-units.
Shishu: Covering loans up to Rs. 50,000.
Kishore: Covering loans above Rs. 50,000 and up to Rs. 5 lakh.
Tarun: Covering loans above Rs. 5 lakh and up to Rs. 10 lakh.

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