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
Correct answer
Explanation
The correct answer is A, bringing the small entrepreneurs into formal financial system. Pradhan Mantri MUDRA Yojana gives collateral-free loans to small and micro business owners so that they can borrow from banks instead of moneylenders. The scheme was launched in April 2015, and MUDRA stands for Micro Units Development and Refinance Agency, a refinancing body set up under SIDBI. Banks, small finance banks, NBFCs and microfinance institutions lend to non-farm micro enterprises such as shopkeepers, artisans, small manufacturers, vendors and service providers. Loans are grouped as Shishu, Kishore and Tarun according to the size of the business and its stage of growth. Option B is wrong because crop loans to farmers come through the Kisan Credit Card and agricultural credit, not MUDRA. Option C is wrong because pensions for the old and destitute are given under the National Social Assistance Programme and the Atal Pension Yojana. Option D is wrong because MUDRA lends to micro enterprises, not to voluntary organisations working on skills. Exam tip: MUDRA (2015, under SIDBI) means Shishu, Kishore and Tarun loans for non-farm micro businesses.
Practice Questions
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- B.Providing clean cooking fuel to poor households
- C.Rationalizing subsidies on LPG
- D.Stopping female foeticide
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- B.Strengthening of the rupee
- C.Higher input costs and inflation pressure
- D.Increase in exports
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- A.1 and 2 only
- B.2 and 3 only
- C.1 and 3 only
- D.1,2 and 3
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All three statements about the Digital India Land Records Modernisation Programme are correct.
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- B.2 and 3
- C.1,3 and 4
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- A.Central Statistics Office
- B.Department for Promotion of Industry and Internal Trade
- C.Labour Bureau
- D.National Technical Manpower Information System
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