Monday, September 28, 2020
Home Business Prime Minister Narendra Modi launches MUDRA bank with Rs.20,000 crore corpus

Prime Minister Narendra Modi launches MUDRA bank with Rs.20,000 crore corpus

indian-currency-523221_640

By Newsgram Staff Writer

In order to promote the growth of the micro businesses and increase employment in the country, Prime Minister Narendra Modi launched Micro Units Development and Refinance Agency (Mudra) bank with a corpus of Rs.20,000 crore, on Wednesday.

According to the officials, the step has been taken to encourage 58 million small businesses around the country. Also, 120 million people will be employed including the underprivileged section of the society.

“After ‘banking the un-banked’ with the Jan Dhan Yojana, it’s time to ‘fund the unfunded’,” said the Prime Minister at the launch event of Mudra.

“Millions of common men and women in this country, who run small businesses, have almost remained outside the net of formal institutional finance, in spite of their large contributions to the economy,” Modi added.

“Providing access to institutional finance to such micro and small business units and enterprises will not only help in improving the quality of life of these entrepreneurs, but also turn them into strong instruments of growth and employment generation,” said the finance minister Arun Jaitley.

The new norms will help small businesses a fair environment to repay their loans.

STAY CONNECTED

19,133FansLike
362FollowersFollow
1,776FollowersFollow

Most Popular

Tobacco Kills 20% of All People Who Die From Coronary Heart Disease Every Year

The World Health Organization reports tobacco kills 1.9 million people, or 20 percent of all those who die every year from coronary heart disease....

Even Low Alcohol Consumption During Pregnancy Can Impact Child’s Brain Development

Researchers have found that even low levels of alcohol consumption during pregnancy can have an impact on a child's brain development. The study, published in...

Pandemic May Cause a Global Tsunami of Mental Health Problems: Researchers

Researchers, including one of Indian-origin, have found that Covid-19 pandemic will cause a global tsunami of mental health problems. Mental health problems were already a...

World Heart Day: Choreographer Ashely Lobo on Attaining Heart Health Through Dance

By Siddhi Jain Indian-Australian choreographer Ashley Lobo, who is also the founder and artistic director of Danceworx Academy and Navdhara Theatre, says that for dancers,...

Here’s Why You Should Change Your Skin & Hair Products Every Season

By Puja Gupta With winters approaching, your skin and hair absolutely starts to feel the difference. The change of season is always a complicated time...

The Party Culture of Hindi Film Industry

BY VINOD MIRANI The film industry was known for its party culture. The alcohol flowed freely catering to choice of all, from beer to vodka...

High Levels of Air Pollution Leads to Increase in Electricity Consumption: Study

Researchers have found that high levels of air pollution are forcing people to consume more electricity, subsequently causing even greater environmental problems by increasing...

Using Weighted Chain Blankets May Improve Sleep of Insomnia Patients

Using weighted chain blankets may lead to better sleep maintenance, a higher daytime activity level, and reduced symptoms of fatigue, depression and anxiety among...

Recent Comments