Question
Which of the following is incorrect when we talk about
the PMEGP scheme? ÂSolution
Prime Minister’s Employment Generation Programme (PMEGP ) was l aunched in 2008 by merging the two schemes namely Prime Minister’s Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP). It is a credit linked subsidy programme with focus on g enerating self-employment opportunities through micro-enterprise establishments in the non-farm sector by helping unemployed youth and traditional artisans . Only new projects are considered for sanction under PMEGP.   Eligibility - Any individual, above 18 years of age ; a t least VIII standard pass for projects costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business / service sector.     Under the scheme assistance is given in form of subsidy on project cost for setting up a new microenterprise. The maximum cost of the project/unit admissible in manufacturing sector is Rs. 25 lakhs and in the business/service sector, it is Rs. 10 lakhs. After the subsidy provides, the promoter has to contribute at least 5 to 10%, while t he balance amount of the total project cost will be provided by Banks as term loan and working capital .    The categories of beneficiary’s rate of subsidy under PMEGP (of project cost) and the contribution are as follows:   Â
What was the estimated total business of State Bank of India (SBI) in FY24?
What is the process for eligible investors, other than FPIs, to invest in specified securities under the Fully Accessible Route (FAR)?
What is the enhanced scope for mandatory onboarding in TReDS for buyers as per the Union Budget 2024-25?
Identify the correct statement with respect to IFSCA (Banking) Regulations 2020?
The purpose of trial balance is to know about the:
Which of the following are common barriers to achieving financial inclusion?
1) Lack of physical infrastructure, such as bank branches and ATMs,...
Trade credit is a source of:
Which of the following is not a goal of project management?
Under what condition can an IFSC Banking Unit (IBU) conduct business in Indian Rupees (INR) as per the IFSCA (Banking) Regulations 2020?
What is an example of a niche financial center for wealth management?