Consider the following statements with respect to Mudra Bank/Mudra Yojana:
1. Mudra Bank helps small business units by directly lending loans to them.
2. A food processing unit requiring about Rs.15 lakhs is eligible for full funding under the Mudra Yojana.
Which of the statements given above is/are correct?
1 only
2 only
Both 1 and 2
Neither 1 nor 2
· The Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched in 2015 for providing loans up to Rs. 10 lakhs to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY.
· These loans are given by Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks, Micro finance Institutions (MFIs) and Non-Banking Financial Company (NBFC). 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.
· The financial limit under PMMY is as follows:
(1) Shishu: Covering loans upto Rs. 50,000/-
(2) Kishor: Covering loans above Rs. 50,000/- and upto Rs. 5 lakh
(3) Tarun: Covering loans above Rs. 5 lakh to Rs. 10 lakh
The term 'West Texas Intermediate', sometimes found in news, refers to a grade of
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