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Under the Pradhan Mantri Mudra Yojana (PMMY), loans under the 'Kishor' category cover which of the following ranges?
50,000 to 5,00,000
Up to 50,000
5,00,000 to 10,00,000
10,00,000 to 25,00,000
50,000 to 5,00,000
The Pradhan Mantri Mudra Yojana (PMMY) classifies loans into three categories based on the stage of growth and funding needs of the micro-units. The 'Kishor' category is specifically designed for established businesses requiring capital between 50,000 and 5,00,000 rupees.
The Pradhan Mantri Mudra Yojana (PMMY) classifies loans into three categories based on the stage of growth and funding needs of the micro-units. The 'Kishor' category is specifically designed for established businesses requiring capital between 50,000 and 5,00,000 rupees.
PMMY was launched on April 8, 2015, under the administrative control of the Department of Financial Services, Ministry of Finance, Government of India.
Shishu category: Loans up to 50,000.
Kishor category: Loans above 50,000 and up to 5,00,000.
Tarun category: Loans above 5,00,000 and up to 10,00,000.
Loans are provided by Member Lending Institutions (MLIs) including Public Sector Banks, Private Sector Banks, Regional Rural Banks, and NBFCs.
PMMY is a flagship scheme intended to provide non-collateral loans to non-farm, non-corporate small and micro-enterprises.
The maximum loan limit under the Mudra scheme is 10 lakhs for a single borrower.
Option B (Up to 50,000) corresponds to the 'Shishu' category.
Option C (5,00,000 to 10,00,000) corresponds to the 'Tarun' category.
A is correct тАФ The 'Kishor' category under PMMY provides financial assistance ranging from 50,000 to 5,00,000 to small business owners.
When studying government credit schemes, always correlate them with the Priority Sector Lending (PSL) norms mandated by the RBI, as Mudra loans fall under the PSL category for commercial banks.
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