Question: ‘Bounce Back Loan Scheme’ is launched by which of the following country?
(a) United Kingdom
(b) Russia
(c) Italy
(d) Spain
Answer:(a)
Related facts:
- United Kingdom’s Finance Minister Rishi Sunak has unveiled a 100 per cent state-backed ‘Bounce Back Loan Scheme’ for the small businesses to help them tide through the coronavirus pandemic lockdown.
- The Indian-origin UK Chancellor told the House of Commons that the new fast-track finance scheme, would help bolster the existing package of support available to crisis-hit UK businesses.
- Under the scheme, qualifying small businesses can apply online to borrow between 2,000 pounds and 50,000 pounds as interest-free loans for the first 12 months.