2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 1.5 lakh
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Rs 1.6 lakh
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Rs 1.7 lakh
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Rs 1.4 lakh
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Detailed explanation-1: -Keeping in view the overall inflation and rise in agriculture input cost over the years since 2010, it has been decided to raise the limit for collateral free agricultural loans from the existing level of ₹1 lakh (Rs. One Lakh) to ₹1.60 lakh (Rs.
Detailed explanation-2: -Purpose. The purpose of the Coverage of Collateral Free Loans (CGTMSE)is to provide collateral free loans up to Rs. 200 lakhs (Up to Rs. 100 lakhs for Retail Trade & Wholesale Trade) to Micro and Small Enterprises, as defined under MSMED Act, 2006.
Detailed explanation-3: -It shall be subject to 5 times of annual Income (current-predevelopment state) of the farmer including allied activities or 50% of the value of land mortgaged whichever is lower, subject to maximum Rs. 20 lakhs .
Detailed explanation-4: -Collateral: Equitable mortgage / registered mortgage of land / immovable property as applicable of the value of 100 % loan. However, collateral is waived for KCC limit up to Rs. 1.60 lakhand up to Rs.3.00 lakhs, in case of tie up arrangement.