Under which of the following schemes has the Government of India set up a new institution for development and refinancing activities related to micro units?

Options

A. 1.Pradhan Mantri Yojna
B. 2.Pradhan Mantri MUDRA Yojana
C. 3.Pradhan Mantri Sadak Yojana
D. 4.Pradhan Mantri MNREGA Yojana

Answer

B

Explanation

Explanation: Pradhan Mantri MUDRA Yojana is a scheme launched by the Hon’ble Prime Minister for providing loans upto Rs. 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit and also provide a reference point for the next phase of growth.