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As of October 2019, what is the maximum amount of loan granted by a scheduled commercial bank that is covered under the Credit

Guarantee Fund Scheme for Micro and Small Enterprises?

This questions was previously asked in

SSC CPO 9th Dec 2019 Shift-1

View All SSCCPO Previous Year Papers

Rs50 lakh

Rs200 lakh

Rs100 lakh

Rs150 lakh

Explanation:

- Option 1: Rs 50 lakh

- Initially, the Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGS) covered loans up to Rs 50 lakh. However, this limit has been revised over the years.

- Option 2: Rs 200 lakh

- As of October 2019, the maximum amount of loan covered under the CGS was increased to Rs 200 lakh (or Rs 2 crore). This expansion aimed to support a larger segment of micro and small enterprises.

- Option 3: Rs 100 lakh

- Previously, the CGS extended its coverage to loans of up to Rs 100 lakh as part of its aim to adapt to the growing needs of micro and small enterprises.

- Option 4: Rs 150 lakh

- There is no record that Rs 150 lakh was a notable coverage limit under CGS at any key point, making this option less relevant.

Correct Answer: Option 2: Rs 200 lakh

- This reflects the policy enhancements made to support the MSME sector as of October 2019.