BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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10
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15
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30
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50
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Detailed explanation-1: -Reserve Bank of India has included bank loans up to a limit of ₹30 crore to borrowers for purposes like solar based power generators, biomass-based power generators, wind mills, micro-hydel plants and for renewable energy based public utilities, viz., street lighting systems and remote village electrification etc.
Detailed explanation-2: -The categories under priority sector are as follows: Agriculture. Micro, Small and Medium Enterprises. Export Credit.
Detailed explanation-3: -The Reserve Bank of India (RBI) has categorised renewable energy sector under priority sector lending for loans up to a limit of ₹30 crore.
Detailed explanation-4: -Personal Loans: Most banks offer personal loans to their customers and the money can be used for any expense like paying a bill or purchasing a new television. Generally, these loans are unsecured loans. The lender or the bank needs certain documents like proof of assets, proof on income, etc.
Detailed explanation-5: -As per the RBI circular released in 2016, there are eight broad categories of the Priority Sector Lending. They are: (1) Agriculture (2) Micro, Small and Medium Enterprises (3) Export Credit (4) Education (5) Housing (6) Social Infrastructure (7) Renewable Energy (8) Others.