How much collateral-free loan is provided under Pradhan Mantri Mudra Yojana (PMMY)?
- A₹5 lakh
- B₹3 lakh
- C₹10 lakh
- D₹2 lakh
Solution & Step-by-step Explanation
* Under the Pradhan Mantri Mudra Yojana (PMMY), collateral-free institutional loans up to ₹10 lakh are provided to micro and small non-corporate, non-farm enterprises.
The loans are classified into three operational categories based on development stages:
Shishu: Covering loans up to ₹50,000
Kishor: Covering loans above ₹50,000 and up to ₹5 lakh
Tarun: Covering loans above ₹5 lakh and up to ₹10 lakh
The loans are classified into three operational categories based on development stages:
Shishu: Covering loans up to ₹50,000
Kishor: Covering loans above ₹50,000 and up to ₹5 lakh
Tarun: Covering loans above ₹5 lakh and up to ₹10 lakh