-The New Indian Express The financial distress in the rural sector, especially borne by the farmers and reflected in farmer suicides, is a matter of concern for the nation. The rural economy housing nearly two-thirds of the population is vital for the development of the nation as it not only supplies food for consumption but also provides a market for industrial output. The rural people, due to lack of awareness of...
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MUDRA Bank launched by PM Modi, increases farmer’s compensation
-Tehelka Prime Minister announced increase in quantum of compensation for crop damage to affected farmers by 50 per cent. Showering a bright hope to small entrepreneur, Prime Minister Narendra Modi launched MUDRA (Micro Units Development and Refinance Agency) bank under the Pradhan Mantri Jan Dhan Yojana which will provide credit up to 10 lakh to small entrepreneur and act as a regulator for ‘Micro-Finance Institutions' (MFIs). The prime minister also announced increase in...
More »PM launches MUDRA Bank to ‘fund the unfunded’ small entrepreneurs
-Hindustan Times Prime Minister Narendra Modi on Wednesday launched the MUDRA Bank which will provide loans of up to Rs 10 lakh to small entrepreneurs including shopkeepers and beauty parlour owners, hoping that it will promote growth and create jobs. Short for Micro Units Development and Refinance Agency Bank, the financial institution will act as a regulator for micro-finance institutions (MFIs). MUDRA Bank will have a corpus of Rs 20,000 crore, Modi said...
More »Unused priority sector lending funds to be diverted to MUDRA Bank -Surabhi
-The Indian Express Unused priority sector lending funds of commercial banks will be used to set up the Rs 20,000 crore corpus of the proposed MUDRA Bank. The bank will use at least 65 per cent of its funds for lending to micro enterprises run by members of scheduled castes and tribes. Typically, domestic commercial banks deposit their lending shortfall from priority sector to the Rural Infrastructure Development Fund of the NABARD...
More »Less cash for Dalits, tribals -Basant Kumar Mohanty
-The Telegraph New Delhi: Finance minister Arun Jaitley has slashed the overall allocation for Dalits and tribals in his budget compared with last year's proposals in a trend critics fear could see the "last man" gradually becoming the "lost man". The media, too, came in for criticism for giving the "impression" that the country had no SC/ST citizens. Jaitley yesterday set aside Rs 30,851 crore for Scheduled Castes and Rs 19,980 crore for...
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