By the way, the "big bang" and "little fuse" points sound contradictory. Surely you can only make a little bang when blowing a 300mA fuse? To do that I'd need to have the meter set to either AC or DC current, and have the +ve lead in a different socket. I'm not going to try that to see how big a bang it makes.
An improper fuse on a circuit with a very high rated breaker or fuse (ie. before your MCBs) may fail to interrupt the current. This would have fatal effects on the multimeter, and rather bad ones on your hand. There are also other concerns with very high energy circuits (an inappropriate and inappropriately used multimeter caused an arc between unprotected phases, resulting in the death of the operator and significant damage to the building, in one notable incident).