Question
Which of the following statements is/are incorrect
regarding Micro Unit development and refinance agency (MUDRA)? 1. It provides loans at low interest rates to micro financial institutions and NBFCs for farming and small industries. 2. It has been formed as a wholly owned subsidiary of NABARD. 3. Shishu, Tarun, and Kishor are the subcategories of loan in the increasing order of limit for the loan disbursal. Select the incorrect answer using the codes given below:Solution
● Statement 1 is incorrect: Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched in 2015 for providing loans up to 10 lakhs to the non-corporate, non-farm small/micro enterprises given by Commercial Banks, RRBs, Small Finance Banks, MFIs and NBFCs. MUDRA is an institution to achieve this purpose. ● Statement 2 is incorrect: It is a wholly owned subsidiary of Small Industries Development Bank of India (SIDBI). ● Statement 3 is incorrect: Shishu, Kishor and Tarun are the increasing order of limit for loan disbursal. Shishu loans have limit of Rs 50,000 /- , Kishor have limit upto Rs 5 lakhs and Tarun have limit upto Rs 10 lakhs.
When a person sold an article, his profit% is 70% of the selling price. If the cost price is increased by 80% and the selling price remains the same, th...
A saree having cost price of Rs. 900 is marked up by 50% above its cost price and sold after offering two successive discounts of 10% and 20% respective...
An article is bought for ₹500 and sold at a profit of 20%. What is the selling price ?
Ravi purchased 6 notebooks, 18 markers, and 12 highlighters for Rs. 240, Rs. 1080, and Rs. 360, respectively, from a seller. By selling each notebook an...
A shopkeeper bought two articles for Rs. 350 each. If he sold one of them at 50% profit and the other at 10% loss, then find the difference between the ...
'H' sells an article at a 20% profit. If he had bought it at 20% less and sold it for Rs. 40 more, he would have gained 75%. Determine the cost price of...
The ratio of the cost price and selling price of a product is 3:2. If the product was marked up by 50% and later a discount of Rs. 500 was applied, dete...
The combined cost price of Bournvita and Horlicks is Rs. 2000. With Horlicks sold at a 16% profit and Bournvita at a 20% profit, and given that the rati...
A man purchased some watches at Rs. 400 per watch. He sold (2/5) of them at a 20% profit. If, upon selling all the watches, he earns an overall profit o...
Jupiter borrowed a sum of Rs 31,500 from Mars at the rate of 14% per annum for 3 years. He added some more money in it and lent it to Saturn at the rat...
Relevant for Exams:
