Why in News?
India celebrates 11 years of the Pradhan Mantri MUDRA Yojana (PMMY), launched on 8 April 2015. The scheme aims to provide collateral-free loans to micro and small businesses, promoting entrepreneurship and financial inclusion.
Pradhan Mantri MUDRA Yojana (PMMY)
- Launch Date: 8 April 2015
- Type: Flagship Central Government Scheme
- Objective: βFund the Unfundedβ
- Ministry: Department of Financial Services, Ministry of Finance
Loan Categories under PMMY
Shishu
- Loan up to βΉ50,000
- For new or early-stage entrepreneurs
Kishore
- Loan from βΉ50,001 to βΉ5 lakh
- For growing businesses
Tarun
- Loan from βΉ5 lakh to βΉ10 lakh
- For established enterprises
Tarun Plus (New Category)
- Loan from βΉ10 lakh to βΉ20 lakh
- For entrepreneurs who successfully repaid Tarun loan
To study Indian economy current affairs from exam point of view, Click here
