- Pradhan Mantri MUDRA Yojana (PMMY)
Launched: 8 April 2015
Main Objective: Financial support for growth of micro enterprises sector.
Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana was launched with the purpose to provide funding to the non-corporate small business sector. Pradhan Mantri Mudra Yojana (PMMY) is open and is available from all Bank branches across the country.
The small businesses/startups or entrepreneurs can avail loans from Rs. 50 thousand to 10 Lakh to start/grow their business under the three, Shishu, Kishore and Tarun categories of the scheme.
As per the official website of PMMY, 27344053 number of loans have been sanctioned under the scheme till 26 February 2016. The amount sanctioned has reached more than Rs. 1 Lakh Crore.
Official Website: http://www.mudra.org.in
- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
Launched: 9 May 2015
Main Objective: Provide life insurance cover to all Indian citizens
Pradhan Mantri Jeevan Jyoti Bima Yojana is a government backed life insurance scheme in India aimed at increasing the penetration of life insurance cover in India. The scheme is open and available to all Indian citizens between the age of 18 to 50 years.
Under the scheme, the policy holder can get a life insurance cover of Rs. 2 Lakh with an annual premium of just Rs. 330 excluding service tax. All the Indian citizens between 18-50 years of age with a saving bank account are eligible to avail the scheme.
Official Website: http://www.jansuraksha.gov.in