BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SBI
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Corporation Bank
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Vijaya Bank
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PNB
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Detailed explanation-1: -State-owned Corporation Bank launched the first MUDRA Card for small enterprises under Pradhan Mantri Mudra Yojana (PMMY) in July 2015 at Mangaluru. The Union Budget for FY 2015-16, announced the formation of MUDRA Bank and accordingly MUDRA (Micro Units Development and Refinance Agency Ltd.)
Detailed explanation-2: -MUDRA was launched by the Hon’ble Prime Minister Shri Narendra Modi on 08 April 2015 at a function held at Vigyan Bhawan, New Delhi. 2015-16
Detailed explanation-3: -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-4: -MUDRA, which stands for Micro Units Development & Refinance Agency Ltd., is a financial institution set up by Government of India for development and refinancing of micro units enterprises. It was announced by the Hon’ble Finance Minister while presenting the Union Budget for FY 2016.
Detailed explanation-5: -These include 15 cooperative banks, 25 microfinance institutions, 35 NBFCs, 47 NBFC-MFI, 18 private sector banks, 21 public sector banks, and 36 RRBs. You can access the whole list on the official Mudra website.