Q. Consider the following statement regarding co–lending program ‘Pratham’-
- It was launched by the U GRO capital in partnership with Bank of Baroda.
- it will provide loan for MSME
Which of the above statement /s is / are true?
a) Only 1
b) Only 2
c) Both 1 & 2
d) None of these
ANSWER:- c)
RELATED FACTS:-
- On July 21st, 2021 The U GRO Capital, a BSE listed, technology enabled small business NBFC, announced the launch of a co-lending partnership for micro, small and medium enterprises (MSME) with Bank of Baroda.
- Termed as ‘Pratham’, the loan disbursements have commenced on the occasion of Bank of Baroda’s 114th Foundation Day.
- The program has been launched under Reserve Bank of India’s revised co-lending guidelines.
- Pratham, a Rs 1000 crore co-lending program will allow the MSMEs to avail customized lending solutions at a competitive rate of interest with a significant reduction in turn-around time.
- The loan amount ranges from Rs 50 lakh to Rs 2.5 crore to be offered at an interest rate starting from 8% with a maximum tenure of 120 months.
By – ABHISHEK KUMAR