Question: A recent agreement between Punjab National Bank and National Scheduled Castes Finance and Development Corporation was signed. What is not true in this related option?
(a) This Agreement was made on 5th January, 2018.
(b) This Agreement has been made to provide financial assistance for the economic empowerment of Scheduled Caste families living below the Double poverty Line.
(c) On this Memorandum of Understanding BM Padha of PNB and NSFDC’s Devanand signed.
(d) Under this agreement, PNB will act as a channelizing agent for the NSFDC’s loan schemes.
Answer: (a)
Related Facts:
- On January 8th, 2018, Punjab National Bank and NSFDC (National Scheduled Castes Finance and Development Corporation) have signed a tie-up.
- This Agreement has been done to provide financial assistance for the economic empowerment of Scheduled Caste families living below the DPL-Double Poverty Line.
- BM Padha (General Manager, Priority Sector Financial Inclusion Department, PNB) and Devanand (General Manager, NSFDC) have signed on this MoU.
- Under this agreement, PNB will act as a channelizing agent for the NSFDC’s loan schemes.
- Concessional Finance and Skill Training Grants will be provided to unemployed Scheduled Caste people living below the Double Poverty Line.
Reference:
http://www.thehindubusinessline.com/money-and-banking/pnb-signs-moa-with-nsfdc/article10020461.ece