Which of the following is true regarding the Mudra bank 1 Funding from shor...........

Economic Affairs Types of Banks and Banking

Which of the following is true regarding the Mudra bank?

1. Funding from shortfalls in Priority sector lending by Scheduled Commercial banks

2. atleast 65% of funds will go in lending to microenterprises run by ST/SC and women.

3. The Credit Guarantee Corpus will be formed from budgetary contributions

4. It classifies investments in Microfinance into 2- Kishore and Tarun depending on size of the enterprise.

Code

1,2,4

1,2

2,3,4

1,2,3

4th statement is incorrect.
The bank will classify its clients into three categories and the maximum allowed loan sums will be based on the category:
Shishu: Allowed loans up to Rs. 50,000
Kishore: Allowed loans up to Rs. 5 lakh
Tarun: Allowed loans up to Rs. 10 lakh