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Which Public Sector Bank (PSB) signed Memorandum of Understanding (MoU) with Gujarat state government to facilitate Micro, Small and Medium Enterprises (MSME) loans?
  • a)
    State Bank of India (SBI)
  • b)
    Bank of Baroda (BoB)
  • c)
    Union Bank of India (UBI)
  • d)
    Bank of Maharashtra (BoM)
  • e)
    Central Bank of India (CBI)
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which Public Sector Bank (PSB) signed Memorandum of Understanding (MoU...
In order to provide enough credit to entrepreneurs in the MSME (Micro, Small and Medium Enterprises) sector, the state Government of Gujarat has signed an MoU (memorandum of understanding) with State Bank of India (SBI), through which the bank will provide working capital to entrepreneurs aims to start new MSME within 15 days of making an application. In October 2019, The Gujarat state announced that MSME units will no longer be required to take various approvals to start operations for the initial 3 years period.They can start operations after getting an acknowledgment certificate from the state nodal agency by submitting ‘declaration of intent.’
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Which Public Sector Bank (PSB) signed Memorandum of Understanding (MoU...
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Which Public Sector Bank (PSB) signed Memorandum of Understanding (MoU) with Gujarat state government to facilitate Micro, Small and Medium Enterprises (MSME) loans?a)State Bank of India (SBI)b)Bank of Baroda (BoB)c)Union Bank of India (UBI)d)Bank of Maharashtra (BoM)e)Central Bank of India (CBI)Correct answer is option 'A'. Can you explain this answer?
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