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Questions and Answers
What is the primary objective of Pradhan Mantri Mudra Yojana (PMMY)?
What is the primary objective of Pradhan Mantri Mudra Yojana (PMMY)?
Where can borrowers file online applications for MUDRA loans?
Where can borrowers file online applications for MUDRA loans?
Which of the following institutions can extend Pradhan Mantri Mudra Yojana (PMMY) loans?
Which of the following institutions can extend Pradhan Mantri Mudra Yojana (PMMY) loans?
What is the relationship between MUDRA and SIDBI?
What is the relationship between MUDRA and SIDBI?
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What is the authorized capital of MUDRA?
What is the authorized capital of MUDRA?
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What is the paid-up capital of MUDRA?
What is the paid-up capital of MUDRA?
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What is the primary objective of Pradhan Mantri MUDRA Yojana (PMMY)?
What is the primary objective of Pradhan Mantri MUDRA Yojana (PMMY)?
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What is the role of MUDRA in Pradhan Mantri MUDRA Yojana (PMMY)?
What is the role of MUDRA in Pradhan Mantri MUDRA Yojana (PMMY)?
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Who launched Pradhan Mantri MUDRA Yojana (PMMY)?
Who launched Pradhan Mantri MUDRA Yojana (PMMY)?
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What is the maximum loan amount that can be provided under Pradhan Mantri MUDRA Yojana (PMMY)?
What is the maximum loan amount that can be provided under Pradhan Mantri MUDRA Yojana (PMMY)?
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What is the relationship between SIDBI and MUDRA?
What is the relationship between SIDBI and MUDRA?
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What is the eligibility criteria for availing a MUDRA loan?
What is the eligibility criteria for availing a MUDRA loan?
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What is the main objective of Pradhan Mantri MUDRA Yojana (PMMY)?
What is the main objective of Pradhan Mantri MUDRA Yojana (PMMY)?
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What type of institutions can provide MUDRA loans?
What type of institutions can provide MUDRA loans?
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What is the role of SIDBI in relation to MUDRA?
What is the role of SIDBI in relation to MUDRA?
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How can one apply for a MUDRA loan?
How can one apply for a MUDRA loan?
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What is the authorized capital of MUDRA?
What is the authorized capital of MUDRA?
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What is the paid-up capital of MUDRA?
What is the paid-up capital of MUDRA?
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Which of the following is not a benefit of PMMY?
Which of the following is not a benefit of PMMY?
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What is the role of NBFCs and MFIs in PMMY?
What is the role of NBFCs and MFIs in PMMY?
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What is the target group for PMMY?
What is the target group for PMMY?
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When was the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme launched?
When was the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme launched?
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Study Notes
Pradhan Mantri MUDRA Yojana (PMMY)
- Launched by Prime Minister Narendra Modi on April 8, 2015, to provide loans up to ₹10 lakh to non-corporate, non-farm small/micro enterprises.
- Aimed at funding the non-corporate small business sector through various Last Mile Financial Institutions like banks, NBFCs, and MFIs.
Key Features
- PMMY loans are extended by all Public Sector Banks, Regional Rural Banks (RRBs), Small Finance Banks, Private Sector Banks, Foreign Banks, Micro Finance Institutions, and Non-Banking Finance Companies.
- Monitoring of PMMY progress is done at the State level through SLBC forum and at the National level by MUDRA/Department of Financial Services, Government of India.
- MUDRA Ltd is a refinance agency and not a direct lending institution.
Loans and Application
- MUDRA loans can be availed of from nearby branch offices of banks, NBFCs, MFIs, etc.
- Borrowers can file online applications for MUDRA loans on the Udyamimitra portal (www.udyamimitra.in).
MUDRA Ltd
- Set up by the Government of India for the development and refinancing of micro units enterprises.
- Initially formed as a wholly-owned subsidiary of Small Industries Development Bank of India (SIDBI) with 100% capital contributed by SIDBI.
- Authorized capital of MUDRA is ₹1000 crores, and paid-up capital is ₹750 crores, fully subscribed by SIDBI.
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Description
Learn about the Pradhan Mantri Mudra Yojana (PMMY) loan scheme, announced in the Union Budget for FY 2016. This scheme provides funding to the non-corporate small business sector through various financial institutions. Test your knowledge on PMMY loans and its benefits.
