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 1

ANSWER

Funding the voluntary organizations involved in the promotion of skill development and emplyment generation.

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Answer 2

The Pradhan Mantri MUDRA Yojana was launched by the Prime Minister of India Sri Narendra Modi on 8th April 2015 .

It was launched with the objective of bringing the small enterprises into formal financial system by providing loans to the tune of 10 lakhs . However these loans were only available for the non-corporate and non-farm small enterprises. Thus it helped the small borrowers to borrow from all Public sector banks which includes PSU Banks, Private Sector Banks,Micro finance institution, NBFC, Regional Rural Banks and Cooperative Banks and Foreign Banks