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UPSC 2016: Pradhan Mantri MUDRA Yojana is aimed at
(a)bringing the small entrepreneurs into formal financial system
(b)providing loans to poor farmers for cultivating particular crops
(c)providing pensions to old and destitute persons
(d)funding the voluntary organizations involved in the promotion of skill development and employment generation
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Not attemptedCorrect Answer: (a) bringing the small entrepreneurs into formal financial system
Pradhan Mantri MUDRA Yojana refinances collateral-free micro-loans to the non-corporate small business sector, with the objective of ‘funding the unfunded’ and bringing tiny entrepreneurs into the formal financial/credit system. It is not a crop-loan, pension, or NGO-funding scheme. ([theindianwire.com](https://www.theindianwire.com/politics/pradhan-mantri-mudra-yojana-213727/?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2016 Indian Economy question?▼
The correct answer is option (a): bringing the small entrepreneurs into formal financial system. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Digital Payments & Financial Inclusion question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2016, GS Paper 1, as Question 73. It falls under Indian Economy > Digital Payments & Financial Inclusion.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Digital Payments & Financial Inclusion?▼
UPSC has asked 20 questions from Digital Payments & Financial Inclusion (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.