MSME Development Act 2006 MCQs for BOB SO 2024-25

🚀 Bank of Baroda SO MSME Senior Manager by Team BankExamsToday: - learn.bankexam...
Micro, Small, and Medium Enterprises Development (MSMED) Act, 2006
In this video, Ramandeep Singh dives deep into the MSMED Act, 2006, a cornerstone legislation aimed at promoting and supporting MSMEs in India. Gain insights into the objectives, classifications, key features, and recent amendments to the Act, along with practical examples and challenges faced by the sector.
📌 Key Topics Covered:
Objectives of the MSMED Act
Promoting MSME competitiveness, addressing credit access, and fostering innovation.
Classification of MSMEs
Pre-2020 and Post-2020 criteria, including investment and turnover thresholds.
📌 Key Features
-National Board for MSMEs, registration process, protection against delayed payments, and more.
Support Mechanisms
Credit schemes like CGTMSE, technology upgradation via CLCSS, and market access initiatives.
Challenges and Way Forward
Addressing low awareness, improving credit access, and strengthening global competitiveness.
💡 Examples & Case Studies:
Real-life scenarios demonstrating the effectiveness of the MSMED Act, such as dispute resolution and technology upgradation.
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[@Bankexamstoday]

Correction in Q11:
The maximum loan amount covered under the CGTMSE scheme is ₹500 lakh per eligible borrower for fund-based and non-fund-based credit facilities.

[@chaubeyrahul3063]

5 crore under cgtmse

[@akgupta-wj1fv]

Under CGTMSE collateral free loan upto 5 Cr would be .Here 2 cr is correct...pls clear my doubt.