Q. Consider the following statements about Credit Guarantee Scheme for Exporters (CGSE):
1.The scheme will provide 100% credit guarantee coverage to lending institutions.
2.The scheme will be implemented by Department of Financial Services (DFS).
Which of the statements given above is/are correct?
Answer: C
Notes:
Explanation: Both are correct
Statement 1 is correct: Credit Guarantee Scheme for Exporters (CGSE) will provide 100% credit guarantee coverage by National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for extending additional credit facilities upto Rs.20,000 crore to eligible exporters, including MSMEs.
Statement 2 is correct: The scheme shall be implemented by Department of Financial Services (DFS) through National Credit Guarantee Trustee Company Limited (NCGTC) to provide additional credit support by MLIs to the eligible exporters including MSMEs.
Source: PIB
