BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Multinational Corporation
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Large Business Enterprises
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Micro, Small and Medium Enterprises
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Public Sector Undertakings
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Detailed explanation-1: -The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today approved a USD 808 million or Rs 6, 062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP). RAMP is a new scheme and would commence in FY 2022-23.
Detailed explanation-2: -MSME Loan for New and Existing Businesses The maximum loan amount offered by Banks/NBFCs is up to Rs. 2 crore (Collateral-free loans) with the repayment tenure of up to 5 years, may exceed as per requirements. MSME loan interest rates shall vary, as per applicant’s profile and differ from lender to lender.
Detailed explanation-3: -The interest rates on MSME loans start at 7.65% p.a. The loan amount sanctioned ranges from as low as Rs.50, 000 and can go up to a few crores. On the basis of the sanctioned loan amount, the loan repayment tenure can go up to 15 years.
Detailed explanation-4: -With her fifth budget, Finance Minister Nirmala Sitharaman proposed a special focus on the Micro, Small, and Medium Enterprises (MSMEs) sector in the Union Budget 2023. The finance minister announced a revamped credit guarantee scheme to provide MSMEs with more collateral-free credit.