Which of the following aptly aims to alleviate financial stress of the borrowers at bottom of the…
Under the Atmanirbhar Bharat economic relief package during the COVID-19 pandemic, measures aimed at easing credit stress for bottom-of-the-pyramid and rural borrowers…
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Which of the following aptly aims to alleviate financial stress of the borrowers at bottom of the pyramid by reducing their cost of credit in news of Covid-19 pandemic?
I. A generic loan moratorium to the borrowers
II. Two percent interest subvention on Shishu Loans under the Pradhan Mantri Mudra Yojana
III. Provisioning Rs. 1,500 Crore for Animal Husbandry Infrastructure Fund (AHIDF) to help investment in dairying, meat processing and animal feed plants.
IV. Loans up to 1 crore within 59 minutes through an online portal.
Answer and explanation
Correct answer A
Under the Atmanirbhar Bharat economic relief package during the COVID-19 pandemic, measures aimed at easing credit stress for bottom-of-the-pyramid and rural borrowers included the RBI's loan moratorium (I), a 2% interest subvention on Mudra Shishu loans (II), and the Rs. 15,000 crore Animal Husbandry Infrastructure Development Fund with interest subvention (III). The 59-minute Rs. 1 crore loan portal (IV) was an earlier 2018 initiative.
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UGC NET Commerce