Question
Consider the following statement about Credit Guarantee
Fund Trust for Micro and Small Enterprises: 1. Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) Scheme has approved a credit guarantee of Rs. 1 lakh crore in just 7 months of the current financial year 2023-24. 2. It was launched in 2001. 3. The corpus of CGTMSE is being contributed by the Government of India and Small Industries Development Bank of India (SIDBI) in the ratio of 4:1. Which of the statements given above is/are not correct?Solution
The Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) Scheme has approved a credit guarantee of Rs. 1 lakh crore in just 7 months of the current financial year 2023-24. It was launched in 2000. The Funding of CGTMSE is being contributed by the Government of India and Small Industries Development Bank of India (SIDBI) in the ratio of 4:1.
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