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Everything You Need to Know About Mudra Yojana From GOI

There is a popular misconception that Indians are not keen to initiate or run a business

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Everything You Need to Know About Mudra Yojana From GOI
Everything You Need to Know About Mudra Yojana From GOI.

The country is riding a new economic growth wave led by the new government. The buoyant markets, shining SME and MSME sectors are bearing the testimony of this new revolution. While speaking at a global economic forum, Prime Minister of the country spoke about the economic renaissance that the nation is witnessing. He said that the MSME sector would play the role of a catalyst in changing the financial climate of the country. Reports tabled by different research agencies suggests that the MSME and SME sector will grow manifold in the coming few years. Recent research tabled by ICRA revealed that the credit to micro and small, medium enterprises is likely to record a growth of more than 12 percent in the forthcoming years. The NBFCs is expected to play a major role. The report said that the NBFC and housing finance segment’s CAGR would grow at a rate of 21 percent

There is a popular misconception that Indians are not keen to initiate or run a business. The trend is rather different where people are more interested in beginning something of their own which will be sustainable and profit. This has been the major driving force behind the growth of SME sectors. Interestingly, there are ample examples where people have considered full time business with the start-up if it looks promising with the mode of functioning and the returns. No doubt, availability of finance and access to technology are key to the gradual transformation of such.

Narendra Modi
Narendra Modi (Wikimedia Commons)

Financial support is one aspect which demands closer introspection in India. To some extent, many Indian start-ups don’t get the much-needed small business loans from financial institutions, and ultimately the entire business goes under. The whole issue of sustainable SMEs is closely intertwined with easy finance. In this regard, the Pradhan Mantri Mudra Yojana (PMMY) has been a game changer of all sorts. Within a year of its launch, it has been instrumental in giving small business loans to 1.5 crore new entrepreneurs all over the country. As of now, 3.22 crore new as well as existing entrepreneurs have been sanctioned loans under PMMY. Importantly enough, women entrepreneurs account for about 78 per cent (or 2.52 crore) of the total number of borrowers which is a giant leap towards a gender sensitized ecosystem and women empowerment in the true sense of the term.

The best aspect of the Mudra Yojana is the coverage it provides for the entrepreneurs. The
budding entrepreneurs can apply for loans for purchasing vehicles for goods and personal
transport; starting/ expanding saloons, beauty parlours, gymnasium, boutiques, tailoring shops, dry cleaning, cycle and motorcycle repair shop, DTP and photocopying facilities, medical stores; for undertaking activities such as papad/ pickle/ jam/ jelly making, small service food stalls and day to day catering or canteen services. Loans under PMMY are unique considering the bigger domain it is catering to at present. Even micro entrepreneurs are eligible to opt for such. From another perspective, the inclusive nature of the government policy regarding financial and banking institutions have complemented the efforts. In this regard, the Pradhan Mantri Jan Dhan Yojana, which got recognition from the Guinness Book of World Records for “most bank accounts opened (1.80 crores) in one week as part of the Financial Inclusion Campaign from August 23 to 29, 2014, has been key to financial inclusiveness and transparency across the country. The latest MUDRA (Micro Units Development & Refinance Agency Ltd) data has underlined that in the last 12 months, banks and microfinance institutions have sanctioned and disbursed loans aggregating Rs 1.28 lakh crore and Rs 1.22 lakh crore, respectively, which has been a big blessing to the SME sector. Interestingly, out of this, the sanctions and disbursement to women entrepreneurs are at Rs 59,132 crore and Rs 58,000 crore, respectively.

There is no denying the fact that the Mudra Yojana, which has been catering to young
entrepreneurs with small business loans, have changed the domain of MSMEs and SMEs in
India to a considerable extent. The whole framework has consistently ensured credit flow in the market. No doubt, the smooth flow of credits from financial institutions to entrepreneurs has changed the face of Indian economy and can be said that the approach has strengthened the vibrant Indian economy.

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This AI System Can Evade Censorship In India, China and Kazakhstan

Researchers develop an AI tool that evades censorship in India, China and Kazakhstan

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(AI)-based system automatically learns to evade censorship in India, China and Kazakhstan. Pixabay

Researchers have developed an Artificial Intelligence (AI)-based system that automatically learns to evade censorship in India, China and Kazakhstan.

The tool, called Geneva (short for Genetic Evasion), found dozens of ways to circumvent censorship by exploiting gaps in censors’ logic and finding bugs that the researchers said would have been virtually impossible for humans to find manually.

The researchers are scheduled to introduce Geneva during a peer-reviewed talk at the Association for Computing Machinery’s 26th Conference on Computer and Communications Security in London on Thursday.

“With Geneva, we are, for the first time, at a major advantage in the censorship arms race,” said Dave Levin, an assistant professor of computer science at the University of Maryland in the US and senior author of the paper.

“Geneva represents the first step toward a whole new arms race in which artificial intelligence systems of censors and evaders compete with one another. Ultimately, winning this race means bringing free speech and open communication to millions of users around the world who currently don’t have them,” Levin said.\

censorship, AI
This AI system that evades censorship is called ‘Geneva’. Pixabay

To demonstrate that Geneva worked in the real world against undiscovered censorship strategies, the team ran Geneva on a computer in China with an unmodified Google Chrome browser installed.

By deploying strategies identified by Geneva, the user was able to browse free of keyword censorship.

The researchers also successfully evaded censorship in India, which blocks forbidden URLs, and Kazakhstan, which was eavesdropping on certain social media sites at the time, said a statement from the University of Maryland.

All information on the Internet is broken into data packets by the sender’s computer and reassembled by the receiving computer.

One prevalent form of Internet censorship works by monitoring the data packets sent during an Internet search.

The censor blocks requests that either contain flagged keywords (such as “Tiananmen Square” in China) or prohibited domain names (such as “Wikipedia” in many countries).

When Geneva is running on a computer that is sending out web requests through a censor, it modifies how data is broken up and sent, so that the censor does not recognise forbidden content or is unable to censor the connection.

Known as a genetic algorithm, Geneva is a biologically inspired type of AI that Levin and his team developed to work in the background as a user browses the web from a standard Internet browser.

Like biological systems, Geneva forms sets of instructions from genetic building blocks. But rather than using DNA as building blocks, Geneva uses small pieces of code.

Censorship
By deploying strategies identified by Geneva, the user is able to browse free of keyword censorship. Pixabay

Individually, the bits of code do very little, but when composed into instructions, they can perform sophisticated evasion strategies for breaking up, arranging or sending data packets.

The tool evolves its genetic code through successive attempts (or generations). With each generation, Geneva keeps the instructions that work best at evading censorship and kicks out the rest.

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Geneva mutates and cross breeds its strategies by randomly removing instructions, adding new instructions, or combining successful instructions and testing the strategy again.

Through this evolutionary process, Geneva is able to identify multiple evasion strategies very quickly, said the study. (IANS)