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UGM June 2019 Q96

0. The following statements relate to Mudra Yojana:
Statement I: Mudra is an NBFC supporting development scheme of micro-enterprise sector in the country. It provides refinance support to Bank/MFIs for lending to micro units having loan requirements up to Rs.10 lakh.
Statement II: Mudra has created different products/schemes for refinancing loans. These interventions have been named ‘Shish u’, ‘Kisho re’ and ‘Tarun’ to signify the stage of growth/development and funding needs of the beneficiary micro unit/entrepreneur.
Which of the following options is correct?

  • Option : C
  • Explanation : The MUDRA Bank provides for policy guidelines for micro enterprise financing business. It aims at responsible financing practices to ward off over-indebtedness and refinance to Banks/NBFCs/MFIs. It also provides for formulation/facilitation of Credit Guarantee Scheme for providing guarantees to PMMY loans.
    Micro Units Development and Refinance Agency Ltd. [MU DRA] is an N BFC supporting the development of the micro-enterprise sector in the country. MUDRA provides refinance support to Banks/MFIs for lending to micro units having loan requirement upto 10 lakh.
    MUDRA provides refinance to micro-business under the Scheme of Pradhan Mantri MUDRA Yojana. The other products are for development support to the sector. The bouquet of offerings of MUDRA is depicted below. The offerings are being targeted across the spectrum of beneficiary segments.
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