Current Context: Finance Minister Nirmala Sitharaman launched the Mutual Credit Guarantee Scheme for MSMEs on February 17, 2025.
%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(36).png "A Mutual Credit Guarantee Scheme for MSMEs was launched by FM Sitharaman")
Key Features:
- Loan Amount: Provides collateral-free loans up to ₹100 crore for MSMEs.
- Usage: The loans can be used for purchasing machinery or equipment, enhancing production capabilities.
- Guarantee Coverage: The National Credit Guarantee Trustee Company Ltd (NCGTC) offers 60% guarantee coverage to member lending institutions (MLIs) for these loans.
- Beneficiaries: MSMEs across various sectors, aiming to boost their growth and development.
Question
1. What is the maximum loan amount provided under the Mutual Credit Guarantee Scheme for MSMEs launched on February 17, 2025?a) ₹50 crore
b) ₹75 crore
c) ₹100 crore
d) ₹150 crore
Answer:c) The Mutual Credit Guarantee Scheme, launched by Finance Minister Nirmala Sitharaman on February 17, 2025, provides collateral-free loans up to ₹100 crore to MSMEs.
