Podcast
Questions and Answers
What is the primary purpose of the Pradhan Mantri Mudra Yojana?
What is the primary purpose of the Pradhan Mantri Mudra Yojana?
- To fund educational initiatives
- To offer microfinance to non-corporate, non-farm small/micro enterprises (correct)
- To support large industries with subsidies
- To provide affordable housing loans
What does 'MUDRA' stand for in Pradhan Mantri Mudra Yojana?
What does 'MUDRA' stand for in Pradhan Mantri Mudra Yojana?
- Micro Units Development and Refinance Agency (correct)
- Micro User Development and Refinancing Arrangement
- Money Utilization for Development of Rural Areas
- Money Units Development and Regulatory Agency
Which organization is responsible for implementing the Pradhan Mantri Mudra Yojana?
Which organization is responsible for implementing the Pradhan Mantri Mudra Yojana?
- Reserve Bank of India
- Small Industries Development Bank of India (SIDBI) (correct)
- Ministry of Finance, India
- National Bank for Agriculture and Rural Development (NABARD)
Under PMMY, loans are categorized into how many types based on the loan amount?
Under PMMY, loans are categorized into how many types based on the loan amount?
What is the maximum loan amount available under the 'Shishu' category of PMMY?
What is the maximum loan amount available under the 'Shishu' category of PMMY?
What is the maximum loan amount under the 'Kishor' category in PMMY?
What is the maximum loan amount under the 'Kishor' category in PMMY?
Which category in PMMY provides the highest loan amount, up to INR 10,00,000?
Which category in PMMY provides the highest loan amount, up to INR 10,00,000?
What type of collateral is required for loans under PMMY?
What type of collateral is required for loans under PMMY?
Who is eligible to apply for a loan under PMMY?
Who is eligible to apply for a loan under PMMY?
What sector does PMMY primarily target to extend its loans?
What sector does PMMY primarily target to extend its loans?
Since its inception, how many beneficiaries have been estimated to receive loans under PMMY?
Since its inception, how many beneficiaries have been estimated to receive loans under PMMY?
Which year was the Pradhan Mantri Mudra Yojana launched?
Which year was the Pradhan Mantri Mudra Yojana launched?
What was the original funding source for PMMY when it was launched?
What was the original funding source for PMMY when it was launched?
Which ministry oversees the Pradhan Mantri Mudra Yojana?
Which ministry oversees the Pradhan Mantri Mudra Yojana?
How can one apply for a loan under PMMY?
How can one apply for a loan under PMMY?
Which financial institutions are NOT involved in disbursing Mudra loans?
Which financial institutions are NOT involved in disbursing Mudra loans?
What was a key achievement of PMMY reported in recent fiscal years?
What was a key achievement of PMMY reported in recent fiscal years?
Which new feature was recently added to enhance the accessibility of PMMY?
Which new feature was recently added to enhance the accessibility of PMMY?
What is a significant impact of PMMY on the Indian economy?
What is a significant impact of PMMY on the Indian economy?
What challenge does PMMY face in achieving its goals?
What challenge does PMMY face in achieving its goals?
Study Notes
Pradhan Mantri Mudra Yojana (PMMY)
- Purpose: Provides microfinance to non-corporate, non-farm small and micro enterprises.
- MUDRA: Stands for Micro Units Development and Refinance Agency.
- Implementing Organization: Small Industries Development Bank of India (SIDBI).
- Loan Categories:
- Shishu: Up to INR 50,000
- Kishor: Up to INR 5,00,000
- Tarun: Up to INR 10,00,000
- Collateral: No collateral required.
- Eligibility: Any Indian citizen running a small business.
- Target Sector: Small and micro enterprises.
- Beneficiaries: Over 30 million estimated beneficiaries since its inception.
- Launch Year: 2015
- Funding Source: Government of India.
- Overseeing Ministry: Ministry of Finance.
- Application Process: Through designated public sector banks, private banks, and microfinance institutions.
- Financial Institutions Involved: Commercial banks, Regional Rural Banks, and Cooperative Banks.
- Key Achievements: Over 90% of beneficiaries are women.
- Recent Enhancement: Mobile application for real-time tracking of loan status.
- Impact on Economy: Boost in the number of small and micro enterprises.
- Challenge: Lack of awareness among potential beneficiaries.
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Description
This quiz explores the Pradhan Mantri Mudra Yojana (PMMY), a government initiative to provide microfinance to small businesses in India. It covers key aspects such as loan categories, eligibility, and the funding process. Test your knowledge on this important scheme aimed at uplifting micro and small enterprises.
