PM Narendra Modi appointed a committee headed by ..... to solve the difficulties faced in the implementation of Rs. 3 Lakh crore collateral-free loan for Micro, Small & Medium Enterprises (MSME) .

2023

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

PM Narendra Modi appointed a committee headed by ____ to solve the difficulties faced in the implementation of Rs. 3 Lakh crore collateral-free loan for Micro, Small & Medium Enterprises (MSME) .

A	Nirmala Sitharaman
B	Amit Shah
C	Rajnath Singh
D	Subhramanyam Jaishanker

Explanation:

Detailed explanation-1: -Credit and finance for MSMEs: MSME Minister Narayan Rane on Monday launched the web portal for the Rs 6, 062.45-crore World Bank-assisted central government scheme Raising and Accelerating MSME Performance (RAMP) for MSMEs, over six months after Prime Minister Narendra Modi launched the scheme.

Detailed explanation-2: -Interest rates on MSME loans start at an annual rate of 7.65%. A licensed loan can go from as little as ₹ 50, 000 to a few crores. Based on the amount of the loan approved, the loan term can be up to 15 years.

Detailed explanation-3: -MSME loan is a credit facility offered to MSMEs, individuals, startups, business owners, entrepreneurs, self-employed professionals and other business entities for business expansion purposes and to meet day-to-day business requirements. The maximum loan amount offered by Banks/NBFCs is up to Rs.

Detailed explanation-4: -Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY.

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