Which of the following statements is NOT correct for Pradhan Mantri Mudra Yojana (PMMY)? (a) It was launched in 2015 (b) It grants loans of up to ₹15 lakhs for income generating manufacturing, trading and services sectors (c) Under this scheme only the te

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Q: 17 (CAPF/2024)
Which of the following statements is NOT correct for Pradhan Mantri Mudra Yojana (PMMY)?
(a) It was launched in 2015
(b) It grants loans of up to ₹15 lakhs for income generating manufacturing, trading and services sectors
(c) Under this scheme only the term loan requirements can be met and not the working capital requirements
(d) There is no insistence on collateral for the sanction of loan

question_subject: 

Economics

question_exam: 

CAPF

The Pradhan Mantri Mudra Yojana (PMMY) provides loans up to ₹10 lakhs for income-generating activities in the manufacturing, trading, and services sectors. Therefore, the statement that it grants loans of up to ₹15 lakhs is incorrect. The scheme was launched in 2015, covers both term and working capital loans, and does not require collateral for loan sanctioning.