RBI (RBI) on August 9, 2021, under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) has extended mortgage-free loans to self-help groups of ten lakhs. has been increased from _______.
This questions was previously asked in
IBPS Clerk Main (8th Oct 2022)
twelve lakh
Incorrect Answersixteen lakh
Incorrect Answerfourteen lakh
Correct Answertwenty lakh
Incorrect AnswerNone of the above
Incorrect AnswerExplanation:
Correct Option is 3: twenty lakh
The Reserve Bank of India has notified the enhancement of collateral-free loans to self-help groups (SHGs) from Rs 10 lakh to Rs 20 lakh under Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM).
• The entire loan (irrespective of the loan outstanding, even if it subsequently goes below Rs 10 lakh) would be eligible for coverage under Credit Guarantee Fund for Micro Units (CGFMU).
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By: Parvesh Mehta