Ministry of Rural Development signs MoU with ten banks to promote individual financing

Current Context: The Ministry of Rural Development signed a Memorandum of Understanding (MoU) with ten banks on October 18, 2024, to promote individual financing for higher-order enterprises.

• The banks involved are Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab National Bank, UCO Bank, and IDBI Bank Limited.
• This initiative aims to support women entrepreneurs under the Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY-NRLM) by providing larger loans to help them scale up their businesses.
• The goal is to create "Lakhpati Didis", or women earning over one lakh rupees annually, and boost rural employment.

Question:

1 Which program aims to support women entrepreneurs through this initiative?

• A) Pradhan Mantri Awas Yojana (PMAY)
• B) Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY-NRLM)
• C) Make in India
• D) Startup India

Answer: B) Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY-NRLM) Explanation: The initiative aims to support women entrepreneurs under the Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY-NRLM).