1) What is ‘Loan Origination System’ in the MUDRA Yojana?
a. It is system to take loans for paying previous loans and debts.
b. It is for finding the right lender for the borrower’s needs
c. It is for monitoring loans which are given out
d. None of the above
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Answer
Explanation
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ANSWER: It is for monitoring loans which are given out
Explanation:
- Under Prime Minister’s MUDRA Yojana, ‘Loan Origination System’ has been introduced under which credit history of beneficiaries would be tracked to help them develop further by extending all necessary support.
- The system is for proper monitoring of the loans given out under the MUDRA Yojana.
- Further, a portal and mobile app for a loan origination system is in the pipeline to monitor the entire process and time taken for dispersal of the loan.
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2) The MUDRA Bank will initially come under
a. NABARD
b. SIDBI
c. HUDCO
d. CIDCO
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Answer
Explanation
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ANSWER: SIDBI
Explanation:
Micro Units Development Refinance Agency (MUDRA) Bank will be set up soon, first as a wholly owned subsidiary of Small Industries Development Bank of India (SIDBI), and then as a bank through an act of Parliament. The two credit guarantee funds setup will cater to loans disbursed under the Mudra Yojana and the Stand-Up India scheme, to support women entrepreneurs and those from backward classes. It will undertake refinancing operations.
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3) Union Cabinet has provided the approval for the creation of CGFMU. What does it stand for?
a. Credit Guarantee fund for MIDRA
b. Credit Guarantee fund for MADRA
c. Credit Guarantee Fund for MUDRA
d. None of the above
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Answer
Explanation
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ANSWER: Credit Guarantee Fund for MUDRA
Explanation:
Union Cabinet gives approval for Credit Guarantee Fund for MUDRA (Micro Units Development Refinance Agency) loans and conversion of MUDRA Ltd into MUDRA SIDBI. Fund will generate more than 100,000 crore worth of loans to micro and small units within the first instance.
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4) Which of the following statements is/are correct about Micro Units Development Refinance Agency (MUDRA)?
1. CGF(Credit Guarantee Fund) is expected to guarantee more than 1,00,000 crore rupees worth of loans to micro and small units in the first instance.
2. It will reduce the credit risk to Banks and other financial intermediaries.
a. Only 1
b. Only 2
c. Both
d. None
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Answer
Explanation
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ANSWER: Both
Explanation:
- The fund is expected to guarantee more than Rs 1 lakh crore worth of loans to micro and small units. Finance Minister Arun Jaitley said the MUDRA scheme has 1.73 crore beneficiaries.
- The features of the scheme include establishment of Credit Guarantee Fund for MUDRA Units (CGFMU) for guaranteeing loans sanctioned under Pradhan Mantri Mudra Yojana with effect from April, 2015 with the objective to reduce the credit risk to banks, NBFCs, MFIs and other financial intermediaries, who are member lending institutions (MLIs).
- The National Credit Guarantee Trustee Company Ltd. (NCGTC Ltd.), a wholly owned company of Government of India, constituted under the Companies Act, 1956 (2013) to manage and operate various credit guarantee funds, will be the trustee of the Fund.
- The guarantee would be provided on portfolio basis to a maximum extent of 50% of amount in default in the portfolio.
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5) Which of the following is not a schemes offered by MUDRA bank?
a. Shishu
b. Nari
c. Kishor
d. Tarun
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Answer
Explanation
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ANSWER: Nari
Explanation:
The primary product of MUDRA will be refinance for lending to micro businesses / units under the aegis of the Pradhan Mantri MUDRA Yojana. The initial products and schemes under this umbrella have already been created and the interventions have been named ‘Shishu’, ‘Kishor’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur as also provide a reference point for the next phase of graduation / growth for the entrepreneur to aspire for:
1. Shishu: covering loans upto Rs. 50,000/-
2. Kishor: covering loans above Rs. 50,000/- & upto Rs. 5 lakh
3. Tarun: covering loans above Rs. 5 lakh & upto Rs. 10 lakh
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6) Consider the following statements about the MUDRA scheme
1. It has a corpus of Rs 20,000 crore, can lend between Rs 50,000 and Rs 10 lakh to small entrepreneurs.
2. In lending, priority will be given to SC / ST enterprises.
Which of the above statements is / are correct?
a. Only 1
b. Only 2
c. Both
d. None
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Answer
Explanation
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ANSWER: Both
Explanation:
The MUDRA scheme is aimed at "funding the unfunded".The scheme, which has a corpus of Rs 20,000 crore, can lend between Rs 50,000 and Rs 10 lakh to small entrepreneurs. MUDRA will be set up through a statutory enactment. It will be responsible for developing and refinancing all micro-finance institutions (MFIs) which are in the business of lending to micro and small business entities engaged in manufacturing, trading and service activities.
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7) Name the Bank that was launched by PM Narendra Modi on 8th Apr’15 with a corpus of Rs. 20,000 Crore and credit guarantee corpus of Rs. 3,000 Crore?
a. Awasiya Bank
b. Jand Dhan Bank
c. Federal Bank of India
d. MUDRA Bank
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Answer
Explanation
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ANSWER: MUDRA Bank
Explanation:
MUDRA is abbreviated as Micro Units Development and Refinance Agency Ltd. It will be set up through a statutory enactment, and be responsible for developing and refinancing all Micro-finance Institutions which are in the business of lending to micro and small business entities. MUDRA will also partner with state and regional level coordinators to provide finance to Last Mile Financiers of small and micro business enterprises. Around 5.77 crore small business units will be provided access to institutional finance through MUDRA Bank.
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