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?
    A 2 only Correct Answer Incorrect Answer
    B 3 only Correct Answer Incorrect Answer
    C Both 1 and 2 Correct Answer Incorrect Answer
    D Both 1 and 3 Correct Answer Incorrect Answer

    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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