Question
Which of the following are considered primary securit y
in the context of CGTMSE? i. Assets created out of the credit facility ii. Unencumbered fixed assets like l an d, building , factory , associated with the project of the borrowing unit iii. Proprietors’ personal guarantee iv. Personal guarantee of spouse of proprietorSolution
Primary security is the asset created out of the credit facility extended to the borrower and / or which are directly associated with the business / project of the borrower for which the credit facility has been extended. Example: Land, Plant & Machinery or any other business property in the name of a proprietor or unit, if unencumbered, can be taken as primary security. The personal guarantee is also a primary security in following cases:
- I n case the constitution of the borrower is proprietary or partnership, the personal guarantee of proprietor/ partner is treated as primary security .
- Personal guarantee of directors, where borrower constitution is a company is treated as primary security .
RBI has released a list of NBFCs placed under the upper layer under the scale based regulations.With respect to the information provided, which of the f...
- Who received the Governor of Massachusetts’ Citation for global leadership?
What new policy did the Haryana government introduce for the OBC-B category, and what is the revised income ceiling for the creamy layer of OBCs?
RBI has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers.Under the new rules,domestic wire transfers o...
Which organization reported the fourth global mass coral bleaching event during 2023-2024?
Who among the following is also known as Pocket Dynamo?
Consider the following about Startup India:
I. Startup India initiative was announced by the Prime Minister of India on 15th August, 2015.
Who has been named as 2021 Person of the Year by People for the Ethical Treatment of Animals (PETA) India?
Which company's Chief Business Officer, Marni Lavin has resigned from the company after 13 years?
Which bank has tied up with Cholamandalam MS General Insurance to offer health and general insurance products to its customers?
Relevant for Exams:
