Which of the following schemes aims to enable Micro Finance Institutions, Non-Banking Financial Institutions/Companies, Small Finance Banks, RBRs, Commercial Banks and Cooperative Banks to provide small loans to non-corporate non-farm micro/small enterprises and individuals engaged in income-generating businesses?
- APradhan Mantri Vaya Vandana Yojana
- BPradhan Mantri Suraksha Bima Yojana
- CPradhan Mantri Jan Dhan Yojana
- DPradhan Mantri Mudra Yojana
Solution & Step-by-step Explanation
Pradhan Mantri MUDRA Yojana (PMMY) was launched to provide loans up to 10 Lakhs to non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans and are provided through commercial banks, RRBs, small finance banks, MFIs, and NBFCs under three categories: Shishu, Kishor, and Tarun.