Pradhan Mantri MUDRA Yojana is aimed at
- Abringing the small entrepreneurs into formal financial systemCorrect
- Bproviding loans to poor farmers for cultivating particular crops
- Cproviding pensions to old and destitute persons
- Dfunding the voluntary organizations involved in the promotion of skill development and employment generation
Explanation
Pradhan Mantri MUDRA Yojana (PMMY) was launched by the Government of India in April 2015. Its main objective is to provide financial support in the form of loans to non-corporate, non-farm small/micro-enterprises. The scheme aims to facilitate these small entrepreneurs in accessing formal credit from banks and other financial institutions for income-generating activities, thereby bringing them into the formal financial system and promoting self-employment and job creation. The loans are provided under three categories: Shishu, Kishore, and Tarun, based on the loan amount.
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