What does M stand for in MUDRA yojana?
Correct Answer :
Micro
Solution :
The correct option is Micro.
Explanation:
In MUDRA Yojana, the letter M stands for Micro.
The full acronym of MUDRA is Micro Units Development and Refinance Agency Ltd.
Key Details about Pradhan Mantri MUDRA Yojana (PMMY):
• Objective: Launched on April 8, 2015, the scheme aims to provide refinancing support and low-cost credit to non-corporate, non-farm small and micro enterprises.
• Loan Categories: Financial assistance under PMMY is divided into three categories based on the stage of growth and funding requirement:
1. Shishu: Covers loans up to ₹50,000.
2. Kishore: Covers loans above ₹50,000 and up to ₹5 lakh.
3. Tarun: Covers loans above ₹5 lakh and up to ₹10 lakh.
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