Economics · Banking & Credit Guarantee Schemes
Regarding the Credit Guarantee Fund for Micro Units (CGFMU) and its applicability to SHG loans, examine the following statements: Statement I: The CGFMU provides a guarantee cover of 75 percent of the amount in default for loans up to 10 lakh provided to individual SHG members or the group. Statement II: For SHG loans under DAY-NRLM, the guarantee cover is available for the portion of the loan that is provided without any collateral or third-party guarantee. Statement III: The management and administration of the CGFMU is handled by NABARD on behalf of the Ministry of Finance. Choose the correct statements:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only II and III
- 3Only II✓
- 4Only I
Correct answer
Only II
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