Question

A borrower takes ₹1.20 lakh for small retail activity. Household income is ₹3.2 lakh per annum and loan is unsecured. The bank checks PSL micro finance eligibility. Which is correct?

A Eligible as loan below ₹1.25 lakh
B Not eligible due to income limit
C Eligible only if SHG member
D Eligible only for agriculture
E Not eligible as retail loan
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