Question
The Reserve Bank of India (RBI) doubled the limit for
collateral-free loans to micro and small enterprises (MSEs) from 5 lakhs to 10 lakhs following which committees' recommendation?Solution
In 2010, the Reserve Bank of India (RBI) has increased the limit for collateral-free loans to Micro and Small Enterprises (MSEs) from ₹5 lakh to ₹10 lakh. This decision aligns with the recommendations of an RBI-constituted working group led by Executive Director V.K. Sharma. Banks are now mandated not to accept collateral security for loans up to ₹10 lakh extended to MSE units. Â
Consider the following statements regarding the Cash Reserve Ratio (CRR):
1. Banks earn interest on the CRR balances maintained with the RBI.
...Regarding RTGS (Real Time Gross Settlement), what happens if a 'Customer Payment' (R-41) is not credited to the beneficiary's account within the stipula...
The 'Interest Subvention Scheme' for short-term crop loans is available for loans up to:Â
Regarding the Statutory Liquidity Ratio (SLR), consider these statements:
1. SLR is maintained to ensure that banks have liquid assets to meet un...
Under 'Assignment', which of the following is usually transferred to the bank?Â
A 'Floating Rate Bond' is one where:Â
Which of the following is a 'Charge' created on Movable Assets where the possession remains with the borrower?Â
Which of the following is a 'Primary Security' for a working capital loan?Â
Consider the revised MSME classification (effective July 2020) and evaluate these statements:
1. The distinction between manufacturing and servic...
Which of the following is not true about Pradhan Mantri Mudra Yojana?
1. Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’bl...
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