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Under the Pradhan Mantri Mudra Yojana (PMMY), loans are categorized into three products namely Shishu, Kishore, and Tarun. What is the maximum loan amount provided under the 'Tarun' category?
Up to ₹50,000
Above ₹50,000 up to ₹5 lakh
Above ₹5 lakh up to ₹10 lakh
Above ₹10 lakh up to ₹20 lakh
Above ₹5 lakh up to ₹10 lakh
The Pradhan Mantri Mudra Yojana (PMMY) provides non-collateral loans to non-farm, non-corporate small and micro-enterprises. The Tarun category is the highest tier of the scheme, offering loans between 5 lakh and 10 lakh rupees to facilitate the expansion of established small businesses.
The Pradhan Mantri Mudra Yojana (PMMY) provides non-collateral loans to non-farm, non-corporate small and micro-enterprises. The Tarun category is the highest tier of the scheme, offering loans between 5 lakh and 10 lakh rupees to facilitate the expansion of established small businesses.
PMMY is implemented under the Department of Financial Services, Ministry of Finance, aligning with Article 38 of the Directive Principles of State Policy regarding the promotion of welfare through equitable distribution of credit.
Shishu: Covers loans up to 50,000 rupees.
Kishore: Covers loans above 50,000 rupees up to 5 lakh rupees.
Tarun: Covers loans above 5 lakh rupees up to 10 lakh rupees.
The scheme was launched by the Prime Minister on April 8, 2015.
MUDRA stands for Micro Units Development and Refinance Agency Ltd.
Loans under PMMY are provided by commercial banks, RRBs, small finance banks, MFIs, and NBFCs.
Option A refers to the Shishu category.
Option B refers to the Kishore category.
C is correct — The Tarun category under PMMY is designed to provide financial support to businesses requiring loans above 5 lakh rupees and up to 10 lakh rupees.
When studying government credit schemes, always contrast PMMY with the Stand-Up India scheme, which provides loans between 10 lakh and 1 crore for SC/ST and women entrepreneurs.
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