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    Question

    Which of the following statement is/are correct with respect to PM Mudra Yojana?

    I.                The Pradhan Mantri MUDRA Yojana (PMMY) was launched on 8th April 2015.

    II.                The aim to facilitate easy collateral-free micro credit of up to ₹10 lakh to non-corporate, non-farm small and micro entrepreneurs for income generating activities. 

    III.                The loans under PMMY are provided by Member Lending Institutions (MLIs), i.e., Banks, Non-Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) and other financial intermediaries.

    A I and II only Correct Answer Incorrect Answer
    B II only Correct Answer Incorrect Answer
    C II and III only Correct Answer Incorrect Answer
    D I and III only Correct Answer Incorrect Answer
    E all of the above Correct Answer Incorrect Answer

    Solution

    The Pradhan Mantri MUDRA Yojana (PMMY) was launched on 8th April 2015 by Prime Minister Shri Narendra Modi with the aim to facilitate easy collateral-free micro credit of up to ₹10 lakh to non-corporate, non-farm small and micro entrepreneurs for income generating activities. The loans under PMMY are provided by Member Lending Institutions (MLIs), i.e., Banks, Non-Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) and other financial intermediaries.

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