BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 10 lakh
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Rs 15 lakh
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Rs 20 lakh
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Rs 25 lakh
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Detailed explanation-1: -A micro enterprise is an enterprise where the investment in equipment does not exceed Rs. 10 lakh; A small enterprise is an enterprise where the investment in equipment is more than Rs. 10 lakh but does not exceed Rs.
Detailed explanation-2: -Micro Enterprise: Where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees. Small Enterprise: Where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees.
Detailed explanation-3: -As per this announcement, the definition of Micro manufacturing and services units was increased to Rs. 1 Crore of investment and Rs. 5 Crore of turnover.
Detailed explanation-4: -The limit of investment on plant and machinery for micro enterprises is 1 crore.