Cabinet approves 2% interest subvention for Shishu-Mudra loans

News: Government has approved a 2% interest subsidy for Shishu loan account holders under the Pradhan Mantri Mudra Yojana(PMMY) for a period of 12 months to eligible borrowers. Facts: Pradhan Mantri MUDRA Yojana(PMMY): It was launched by the Prime Minister in 2015. Aim: To provide loans up to 10 lakh to the non-corporate, non-farm small/micro… Continue reading Cabinet approves 2% interest subvention for Shishu-Mudra loans

Reserve Bank flags rising bad assets from Mudra loans

News:The Reserve Bank of India (RBI) has expressed concern over rising bad loans from Pradhan Mantri MUDRA Yo­jana(PMMY). Facts: About Rising Bad loans in MUDRA Yojana: The RBI Deputy Governor said that MUDRA was launched with the objective of lifting many beneficiaries out of poverty. However,there have been concerns at the growing level of non-performing… Continue reading Reserve Bank flags rising bad assets from Mudra loans

Labour Bureau submits report on jobs created by MUDRA loans

The Labour Bureau has submitted its report on jobs created by MUDRA scheme. In 2017, the Labour Ministry had asked the Labour Bureau to initiate the survey on jobs created through the MUDRA scheme. Labour Bureau is an attached office under Ministry of Labour and Employment. It is responsible for the collation, collection and publication… Continue reading Labour Bureau submits report on jobs created by MUDRA loans