The major aspect of financial inclusion is enabling the flow of credit to small businesses. In pursuance of the announcement in the Union Budget 2015–16, the Micro Units Development Finance Agency (MUDRA) was set up and this led to which of the below mentioned schemes?

Correct option is B

The correct answer is: (b) Pradhan Mantri Mudra Yojana (PMMY)
Explanation:
· PMMY was launched in April 2015 to provide collateral-free loans up to ₹10 lakh to non-corporate, non-farm small/micro enterprises.
· It operates through MUDRA (Micro Units Development & Refinance Agency) to promote financial inclusion.
Information Booster:
· Loans are given under three categories: Shishu, Kishore, Tarun.
· Objective: “Fund the Unfunded”.
· Administered by Ministry of Finance.
· Supports women entrepreneurs, SC/ST, and backward communities.
· Encourages small business growth and job creation.