-The Hindu Business Line Finance Minister meets bankers to set targets To promote very small businesses, the Centre aims to facilitate credit up to ₹1 lakh crore under the MUDRA scheme in the current fiscal. According to a senior government official, the credit facility issue was discussed at a meeting between the Finance Minister and bankers recently. It was proposed that for the current fiscal, the target under ‘Shishu’ category would be ₹40,000 crore,...

-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...

-India Today Ahmedabad: IIT-Madras graduate Kannan Lakshminarayan dusted a few copies of "Young India" to find Mahatma Gandhi's vision and initiate cotton farmers to use miniature spinning machines right in their village where they grow the crop and increase their income. Following this, the middleman was out, the long-drawn value chain was short-circuited while farmers became spinners first and subsequently, weavers and even garment makers. In 1920, Mahatma Gandhi had written in...

-The Indian Express A little more than a week ago, World Bank chief Jim Yong Kim praised Prime Minister Narendra Modi for launching the Pradhan Mantri Jan-Dhan Yojana (PMJDY), which he called an “extraordinary effort” at financial inclusion. According to the Union finance ministry, India has attained 99 per cent financial inclusion, measured as households’ access to bank accounts. Within three months of launching the PMJDY, the government entered the Guinness...

-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...