Question : What is the maximum amount of loan permissible under Pradhan Mantri MUDRA Yojana as of October 2022?
Option 1: INR 12 lakhs
Option 2: INR 5 lakhs
Option 3: INR 3 lakhs
Option 4: INR 10 lakhs
Correct Answer: INR 10 lakhs
Solution : The correct answer is INR 10 lakhs .
MUDRA stands for Micro Units Development & Refinance Agencies Ltd. Pradhan Mantri Mudra Yojana is a Government of India scheme which enables small borrowers to borrow from banks, Microfinance institutions and Non-Banking Finance corporations for loans up to a maximum limit of INR10 lakhs for non-farm income generating activities. Generally, these loans are given without collateral.
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