Current Affairs Exam > Current Affairs Questions > Consider the following statements regarding E...
Start Learning for Free
Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):
1. MUDRA borrowers are not eligible for the programme.
2. The ECLGS scheme's guarantee provider is SIDBI.
3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.
Which of the statements given above is/are not correct?
- a)1 and 2 only
- b)2 only
- c)3 only
- d)None
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consider the following statements regarding Emergency Credit Line Guar...
- The Emergency Credit Line Guarantee Scheme (ECLGS) provides fully guaranteed and collateral free additional credit to MSMEs, business enterprises, MUDRA borrowers and individual loans for business purposes.
- National Credit Guarantee Trustee Company (NCGTC) is the guarantee provider under the ECLGS scheme.
- NCGTC is a private limited company incorporated under the Companies Act, 1956 in 2014, established by the Department of Financial Services, Ministry of Finance, as a wholly owned company of the Government of India, to act as a common trustee company for multiple credit guarantee funds.
-
- Recently, the government has extended the ECLGS until 30th June 2021, and also widened its scope to new sectors; covers business enterprises in Hospitality, Travel & Tourism, Leisure & Sporting sectors:
- Which had, as on 29th february 2020,
- Whose total credit outstanding is not exceeding Rs. 500 crore and overdues, if any, were for 60 days or less.
-
Most Upvoted Answer
Consider the following statements regarding Emergency Credit Line Guar...
Explanation:
Emergency Credit Line Guarantee Scheme (ECLGS) is a scheme announced by the Government of India in May 2020 to provide fully guaranteed and collateral-free additional credit to MSMEs (Micro, Small and Medium Enterprises) who are affected by the COVID-19 pandemic. Let's go through the given statements to check their correctness:
1. MUDRA borrowers are not eligible for the programme:
This statement is correct. MUDRA (Micro Units Development and Refinance Agency) borrowers are not eligible for the ECLGS scheme. MUDRA loans are already collateral-free loans provided to MSMEs, so the government has excluded MUDRA borrowers from the ECLGS scheme.
2. The ECLGS schemes guarantee provider is SIDBI:
This statement is incorrect. SIDBI (Small Industries Development Bank of India) is not the guarantee provider for the ECLGS scheme. The scheme is provided by the National Credit Guarantee Trustee Company (NCGTC), which is a subsidiary of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors:
This statement is correct. The government has recently expanded the ECLGS scheme to include businesses in the tourism and hospitality sectors. The scheme has been extended to cover 26 stressed sectors including tourism, travel, and hospitality.
In conclusion, option 'A' is the correct answer as statement 1 and 2 are incorrect.
Emergency Credit Line Guarantee Scheme (ECLGS) is a scheme announced by the Government of India in May 2020 to provide fully guaranteed and collateral-free additional credit to MSMEs (Micro, Small and Medium Enterprises) who are affected by the COVID-19 pandemic. Let's go through the given statements to check their correctness:
1. MUDRA borrowers are not eligible for the programme:
This statement is correct. MUDRA (Micro Units Development and Refinance Agency) borrowers are not eligible for the ECLGS scheme. MUDRA loans are already collateral-free loans provided to MSMEs, so the government has excluded MUDRA borrowers from the ECLGS scheme.
2. The ECLGS schemes guarantee provider is SIDBI:
This statement is incorrect. SIDBI (Small Industries Development Bank of India) is not the guarantee provider for the ECLGS scheme. The scheme is provided by the National Credit Guarantee Trustee Company (NCGTC), which is a subsidiary of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors:
This statement is correct. The government has recently expanded the ECLGS scheme to include businesses in the tourism and hospitality sectors. The scheme has been extended to cover 26 stressed sectors including tourism, travel, and hospitality.
In conclusion, option 'A' is the correct answer as statement 1 and 2 are incorrect.
|
Explore Courses for Current Affairs exam
|
|
Similar Current Affairs Doubts
Top Courses for Current AffairsView all
Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer?
Question Description
Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer?.
Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Current Affairs.
Download more important topics, notes, lectures and mock test series for Current Affairs Exam by signing up for free.
Here you can find the meaning of Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements regarding Emergency Credit Line Guarantee Scheme (ECLGS):1. MUDRA borrowers are not eligible for the programme.2. The ECLGS schemes guarantee provider is SIDBI.3. The ECLGS scheme has recently been expanded to include businesses in the tourism and hospitality sectors.Which of the statements given above is/are not correct?a)1 and 2 onlyb)2 onlyc)3 onlyd)NoneCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Current Affairs tests.
|
|
Explore Courses for Current Affairs exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup