2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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4%
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3%
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2%
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1%
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Detailed explanation-1: -2% Interest Subvention approved on prompt repayment of Shishu Loans under Pradhan Mantri MUDRA Yojana for a period of 12 months.
Detailed explanation-2: -Benefits. An interst subvention of 2% for a period of 12 months, to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to all eligible borrowers.
Detailed explanation-3: -The finance ministry on Tuesday said non-performing assets (NPAs) relating to Mudra loans stood at just 3.17% of the credit disbursed as of March 2022.
Detailed explanation-4: -Pradhan Mantri Mudra Yojana is a Government of India scheme, which enables a small borrower to borrow from banks, MFIs, NBFCs for loans upto 10 lakh for non farm income generating activities. Generally, loans upto ‘ 10 lakh issued by banks under Micro Small Enterprises is given without collaterals.
Detailed explanation-5: -Shishu: The Shishu scheme offers loans limited up to Rs. 50, 000. The maximum tenure to pay off the loan is 5 years in this case. It is usually offered to borrowers who are about to start their new ventures and are at an early stage of business setups.