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Prime Minister Narendra Modi to launch MUDRA bank tomorrow

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By Newsgram Staff Writer

The Prime Minister Narendra Modi will launch the Micro Units Development and Refinance Agency Ltd. (MUDRA)  bank tomorrow at Vigyan Bhavan which will benefit 5.77 crore small business units.

Earlier, the Union Finance Minister Arun Jaitley in his Budget Speech said, “The creation of a Micro Units Development Refinance Agency (MUDRA) Bank, will be completed with a corpus of Rs.20,000 crore, and credit guarantee corpus of Rs.3,000 crore.”

“MUDRA, to be set up through a statutory enactment, would be responsible for developing Micro-Finance Institutions (MFIs) which are in the business of lending to small business entities engaged in manufacturing, trading and service activities. It would also partner with state/regional level coordinators to provide finance to last mile financiers of small business enterprises,” he added.

The roles for MUDRA bank would include laying down policy guidelines for micro enterprise financing business, registration of MFI entities, accreditation of MFI entities.

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PM Modi Advises Scientists To Use Science to Improve Lives

PM Narendra Modi tells Scientists to use science to improve the lives of citizens

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Modi advises Scientists
Prime Minister Modi tells scientists that science and technology should be used to bettering the lives of citizens. Wikimedia Commons

Prime Minister Narendra Modi on Tuesday called upon scientists to take up challenges in their research for bettering the daily lives of common citizens, especially farmers, help in reaching clean drinking water, solar power to the people, and solving problems such as pollution.

Highlighting the importance of ‘science for society’, Modi said when all “scientists, all citizens, will move forward with this understanding, both the country and mankind will be benefited”.

“To know the connection between science and society, we have to give answers to some questions. Everybody knows the pollution problem due to increased use of plastic. Can our scientists take up the challenge to come up with saleable and cost effective material which can take the place of plastic?” the Prime Minister asked while inaugurating the India International Science Festival through video conferencing from Delhi.

Indian PM Narendra Modi
PM Narendra Modi highlights the importance of ‘Science for Society’. Wikimedia Commons

Modi exhorted scientists assembled from India and abroad for the mega event whether they can take up the challenge to find a better way to store energy or electricity.

“Can we get a solution so that the use of solar power can go up, can we come up with an innovation related to battery and other infrastructure to reach electric mobility to the common man?

“Have we thought of doing something in our lab which can improve the lives of crores of people? Can we find a solution to local drinking water problems and reach clean drinking water to the people?” he asked.

Also Read-Vietnam and Australia to Start Collaborating on Science Initiatives

Modi also urged scientists to ponder over whether they can invent something which would cut down healthcare cost, and benefit peasants by increasing their income.

“We have to think how use of science can help in easing the lives of the people,” he said. (IANS)