Prime Minister Narendra Modi has announced new approach to loans, farmers and women in a bid to give them a boost in the economy and get them to contribute meaningfully in return. Here are key highlights you need to know.
-Govt to extend credit guarantee to SME loans to Rs 2 crore, up from the earlier guarantee of Rs 1 crore
-Important for India to have more contribution from women.
-Pregnant women in over 650 districts of India to benefit from Rs 6000 cash transfer as an aid for medical needs, nutrition, boost to health and other things.
-On the issue of demonetisation, he hailed the work of women employees along with others in staying back late at banks, post offices and other posts where demonetisation drive was being rolled out.
-The deadline to exchange or deposit devalued high-value currency bills expired yesterday. Till March 31, the outlawed notes can be turned in at the Reserve Bank of India but not other bank branches.
Sops for poor, women, farmers, elderly in PM’s post-note ban address
BOOST BY THE PM
-Senior citizens to get 8% interest for 10 yrs on up to 7.5 lakh deposited in banks: Major post-demonetisation announcements by the PM:
– The government to stand guarantee for loans up to Rs 2 crore from current Rs 1 crore, to small businesses.
– Banks have been asked to raise cash credit limit to small business to 25 per cent from 20 per cent.