Pradhan Mantri MUDRA Yojana (PMMY) Context: India marks 11 years of the Pradhan Mantri MUDRA Yojana (PMMY) Pradhan Mantri Mudra Yojana was launched on 8 April 2015. It is a flagship scheme aimed at supporting unfunded micro and small enterprises. Objective of the Scheme To provide collateral-free loans to small businesses. To promote financial inclusion and grassroots entrepreneurship. To simplify access to credit for small and informal sector enterprises. Significance Reduced dependency on traditional banking barriers. Created opportunities for self-employment, especially among youth. Encouraged innovation and entrepreneurship at the grassroots level. Offered a more inclusive alternative to earlier credit systems. Achievements Around 58 crore loans sanctioned. Total loan amount exceeds ₹40 lakh crore. Two-thirds of loans given to women entrepreneurs. About 20% loans provided to first-time entrepreneurs. Loan Features Provides collateral-free loans up to ₹20 lakh. Easy and streamlined loan process for small businesses. Categories of MUDRA Loans Shishu: covering loans upto Rs. 50,000/- Kishore: covering loans above Rs. 50,000/- and up to Rs. 5 lakhs Tarun: covering loans above Rs. 5 lakh and up to Rs. 10 lakhs Tarun Plus: Rs. 10 lakh and up to Rs. 20 lakhs Current Facts Nari Shakti Vandan Adhiniyam In September 2023, Parliament passed the Constitution (One Hundred and Sixth Amendment) Act, 2023, or the Nari Shakti Vandan Adhiniyam, which commits to reserving one-third of seats in the Lok Sabha and Vidhan Sabhas for women, including in constituencies already earmarked for Scheduled Castes and Scheduled Tribes. Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) Context: Special measures have been initiated to automate the processes for receiving insurance claim amounts under the Prime Minister's Ayushman Bharat Health Insurance Scheme. Accordingly, facilities are being introduced to automatically scrutinize insurance claims submitted by hospitals and to release the funds immediately. This initiative will prevent…
