BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 50 lakh
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Rs 1crore
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Rs 25 lakh
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Rs 10 lakh
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Detailed explanation-1: -A composite loan limit of Rs. 1 crore can be sanctioned by banks to enable the MSE entrepreneurs to avail of their working capital and term loan requirement through Single Window.
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: -Nature of Assistance – The minimum loan size is Rs. 10 lakh for equipment and finance. The minimum loan size for others is Rs. 25 lakh.
Detailed explanation-4: -All loans to units in the KVI sector will be eligible for classification under the sub-target of 7.5 percent prescribed for Micro Enterprises under priority sector. Loans up to ₹50 crore to Start-ups, as per definition of Ministry of Commerce and Industry, Govt.