BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -While terming it misleading, it further said, “This letter is Fake. Finance Ministry has not issued this letter.” The tweet also has the link to the Mudra scheme page that answers all frequently asked questions. Through Pradhan Mantri Mudra Yojana, one can take a loan of Rs 50, 000 to Rs 10 lakh.

Detailed explanation-2: -Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY.

Detailed explanation-3: -MUDRA provides refinance support to Banks / MFIs / NBFCs for lending to micro units having loan requirement upto 10 lakh. MUDRA provides refinance support to micro business under the Scheme of Pradhan Mantri MUDRA Yojana. The other products are for development support to the sector.

Detailed explanation-4: -There are three types of mudra loan schemes, namely Tarun, Kishor, and Shishu.

Detailed explanation-5: -Difference between Mudra Bank and PMEGP Since, PMEGP Was for Manufacturing unit and service units in business or service sectors, while Mudra Bank is only focused on Micro Units Development (for which Up to rs. 10 lac of loan is given).