Banking · Banking Codes and Standards
How does the 'Code of Bank's Commitment to Micro and Small Enterprises' primarily benefit MSE customers?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1By providing them with automatic collateral-free loans up to Rs 1 crore.
- 2By mandating the bank to offer them interest rates lower than the prevailing market rates.
- 3By ensuring transparency in interest rates, fair practices in debt collection, and clear timelines for loan processing and communication.✓
- 4By granting the MSE customer the final say in the settlement of their legal disputes with the bank.
Correct answer
By ensuring transparency in interest rates, fair practices in debt collection, and clear timelines for loan processing and communication.
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