Reserve Bank of India has made banks priority sector norms lenient by saying that all loans to MSME will henceforth qualify as priority sector lending. MSME stands for

BANKING GENERAL KNOWLEDGE

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

Reserve Bank of India has made banks’ priority sector norms lenient by saying that all loans to MSME will henceforth qualify as priority sector lending. MSME stands for

A	Micro Small and Medium Enterprises
B	Micro System and Medium Enterprises
C	Micro Small and Management Enterprises
D	Micro Small and Medium Energy

Explanation:

Detailed explanation-1: -3.2. 3 In terms of the recommendations of the Prime Minister’s Task Force on MSMEs, banks are advised to achieve a 20 per cent year-on-year growth in credit to micro and small enterprises and a 10 per cent annual growth in the number of micro enterprise accounts.

Detailed explanation-2: -4. The categories under priority sector are as follows: Agriculture. Micro, Small and Medium Enterprises.

Detailed explanation-3: -Priority sector lending constitutes the lending to– agriculture, micro and small enterprises, micro credit, education, housing and weaker sections. Q.

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