BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was set up by Government of India and which of the following bank?

A	RBI
B	NABARD
C	SIDBI
D	MUDRA

Explanation:

Detailed explanation-1: -To operationalise the scheme, Government of India and SIDBI set up the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The lender should cover the eligible credit facilities as soon as they are sanctioned.

Detailed explanation-2: -The Ministry of Micro, Small and Medium Enterprises and Small Industries Development Bank of India (SIDBI), established a Trust named Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement the Credit Guarantee Fund Scheme for Micro and Small Enterprises.

Detailed explanation-3: -HDFC Bank Ltd. ICICI Bank Ltd. IDBI Bank Ltd. IDFC First Bank Ltd.

Detailed explanation-4: -CGTMSE was set up by Government of India and SIDBI in August 2000 for extending guarantee cover to collateral-free loans to MSE units upto Rs. 1 crore per borrower.

Detailed explanation-5: -CGTMSE: Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was established by Govt. of India and SIDBI in August 2000 to facilitate collateral free credit to the Entrepreneurs in the Micro and Small Enterprises (MSEs) Sector.

There is 1 question to complete.