Question
Download Solution PDFPradhan Mantri Mudra Yojana (PMMY) is a scheme launched by the Hon'ble Prime Minister of India on April 8, 2015 for providing ______ to the non - corporate enterprises.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is loan.Key Points
- PMMY aims to provide loans up to Rs. 10 lakhs to non-corporate small business units.
- PMMY has been launched under the aegis of the Micro Units Development and Refinance Agency (MUDRA) which is a subsidiary of Small Industries Development Bank of India (SIDBI).
- The objective of PMMY is to promote entrepreneurship and facilitate the growth of small businesses in the country by providing easy access to credit.
- The scheme offers three types of loans: Shishu (up to Rs. 50,000), Kishore (Rs. 50,001 to Rs. 5 lakhs) and Tarun (Rs. 5,00,001 to Rs. 10 lakhs).
Additional Information
- Skill training is provided under other schemes such as Pradhan Mantri Kaushal Vikas Yojana.
- Encouraging aptitude towards employable skills and boosting working efficiency of potential and current daily wage earners are the goals of the PMKVY scheme.
- The average prize amount per individual has remained at ₹8,000.
- House subsidy is provided under schemes such as Pradhan Mantri Awas Yojana.
- It is divided into two parts: the Pradhan Mantri Awas Yojana (Urban) (PMAY-U) for the impoverished in urban areas, and the Pradhan Mantri Awaas Yojana (Gramin) (PMAY-G and PMAY-R) for those in rural areas.
- The Ministry of Housing and Urban Affairs oversees the former, while the Ministry of Rural Development oversees the latter.
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