RBI Committee suggested to increase the collateral-free loans for MSMEs from Rs 10 lakh to ______

Current Affairs - 2019

RBI Committee suggested to increase the collateral-free loans for MSMEs from Rs 10 lakh to _______

Rs 17 lakh

Rs 18 lakh

Rs 19 lakh

Rs 20 lakh

Correct Answer : Rs 20 lakh

Reserve Bank of India (RBI) expert committee on Micro, Small and Medium Enterprises (MSMEs) headed by the former Securities and Exchange Board of India (SEBI) Chairman U K Sinha, has recommended doubling the capital on collateral-free loans from the current Rs 10 lakh to Rs 20 lakh, for borrowers falling under the Micro Units Development and Refinance Agency (MUDRA), self-help groups, and MSMEs. According to the 2006 definition, manufacturing units with investment below Rs 25 lakh were termed micro, those between Rs 25 lakh and Rs 5 crore termed small, and from Rs 5 crore to Rs 10 crore medium. For service units, the corresponding amounts were up to Rs 10 lakh for micro, Rs 10 lakh-2 crore for small, and Rs 2 crore-5 crore for medium enterprises.

Published On : July 13, 2021

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