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      Question

      Loans up to how much qualify as micro loans under the

      Credit Guarantee Fund for Micro Units (CGFMU)?
      A ₹5 lakh Correct Answer Incorrect Answer
      B ₹10 lakh Correct Answer Incorrect Answer
      C ₹15 lakh Correct Answer Incorrect Answer
      D ₹20 lakh Correct Answer Incorrect Answer
      E ₹25 lakh Correct Answer Incorrect Answer

      Solution

      CGFMU supports MUDRA loans and covers loans up to ₹20 lakh to encourage banks and NBFCs to lend to small units without requiring collateral.

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