GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“Micro Credits” are loans:
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not exceeding Rs. 50,000 per borrower provided by banks
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granted to distressed persons (other than farmers) to pre-pay their debt to non-institutional lenders against appropriate collateral or group security
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both (a) and (b)
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not exceeding Rs. 20,000 per borrower provided by banks
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Explanation:
Detailed explanation-1: -Microfinance loans are designed to help aspiring entrepreneurs generate income, build assets, manage risks and meet their household needs – no matter where they live. We’ll explore microfinancing and how business owners can access this funding source.
Detailed explanation-2: -It is the small credit given to poor.
Detailed explanation-3: -microcredit, also called microbanking or microfinance, a means of extending credit, usually in the form of small loans with no collateral, to nontraditional borrowers such as the poor in rural or undeveloped areas.
There is 1 question to complete.