Pradhan Mantri MUDRA Yojana (PMMY) is a scheme for providing collateral free loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises. Hence statement 1 is correct and statement 2 is not correct.
• These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks,
RRBs, Small Finance Banks, MFIs and NBFCs. Hence statement 3 is not correct.
• Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur
and also provide a reference point for the next phase of graduation / growth.
o Shishu: covering loans upto Rs. 50,000
o Kishor: covering loans above Rs.50,000/- and upto Rs. 5 lakh
o Tarun: covering loans above Rs. 5 lakh to Rs. 10 lakh
Hence Option A is the correct choice.