{"id":324218,"date":"2020-06-24T18:16:46","date_gmt":"2020-06-24T18:16:46","guid":{"rendered":"http:\/\/tehelka.com\/?p=324218"},"modified":"2020-06-24T18:16:46","modified_gmt":"2020-06-24T18:16:46","slug":"government-approves-2-percent-interest-subsidy-to-shishu-borrowers-under-mudra-yojana","status":"publish","type":"post","link":"https:\/\/tehelka.com\/government-approves-2-percent-interest-subsidy-to-shishu-borrowers-under-mudra-yojana\/","title":{"rendered":"Government approves 2 percent interest subsidy to Shishu borrowers under Mudra Yojana"},"content":{"rendered":"<p style=\"background: white; margin: 0in 0in 7.5pt; text-align: justify;\"><span style=\"font-size: 14pt; font-family: 'times new roman', times, serif;\"><span style=\"color: black;\"><img decoding=\"async\" loading=\"lazy\" class=\" wp-image-315906 aligncenter\" src=\"http:\/\/tehelka.com\/wp-content\/uploads\/2019\/10\/money.jpg\" alt=\"\" width=\"655\" height=\"453\" srcset=\"https:\/\/tehelka.com\/media\/2019\/10\/money.jpg 551w, https:\/\/tehelka.com\/media\/2019\/10\/money-300x207.jpg 300w, https:\/\/tehelka.com\/media\/2019\/10\/money-100x70.jpg 100w, https:\/\/tehelka.com\/media\/2019\/10\/money-218x150.jpg 218w\" sizes=\"(max-width: 655px) 100vw, 655px\" \/>Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved<strong style=\"box-sizing: border-box;\">\u00a0<\/strong><\/span><span style=\"box-sizing: border-box;\"> a scheme for interest subvention of 2%\u00a0<\/span><span style=\"color: black;\"><span style=\"box-sizing: border-box;\">for a period of 12 months,\u00a0<\/span><\/span><span style=\"color: #333333;\"><span style=\"box-sizing: border-box;\">to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to eligible borrowers.<\/span><\/span><\/span><\/p>\n<p style=\"text-align: justify; background: white; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px; margin: 0in -2.3pt 7.5pt 0in;\"><span style=\"box-sizing: border-box; font-size: 14pt; font-family: 'times new roman', times, serif;\"><span style=\"color: #333333;\">The scheme will be extended to loans which meet the following criteria &#8211; outstanding as on 31<\/span><sup style=\"box-sizing: border-box;\"><span style=\"color: #333333;\">st<\/span><\/sup><span style=\"color: #333333;\">\u00a0March, 2020; and<\/span><span style=\"color: #333333;\">\u00a0<span style=\"color: #333333;\">not in Non-Performing Asset (NPA) category, as per Reserve Bank of India (RBI) guidelines, on 31<\/span><sup style=\"box-sizing: border-box;\"><span style=\"color: #333333;\">st<\/span><\/sup><span style=\"color: #333333;\">\u00a0March 2020 and\u00a0<\/span>during the period of operation of the Scheme.<\/span><\/span><\/p>\n<p style=\"text-align: justify; background: white; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px; margin: 0in -2.3pt 7.5pt 0in;\"><span style=\"box-sizing: border-box; font-size: 14pt; font-family: 'times new roman', times, serif;\"><span style=\"color: #333333;\">The interest subvention would be payable for the months in which the accounts are not in NPA category including for the months that the account becomes a performing asset again, after turning NPA. The scheme will incentivize people who will make regular repayments of loans.<\/span><\/span><\/p>\n<p style=\"text-align: justify; background: white; box-sizing: border-box; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px; margin: 0in 0in 7.5pt 0in;\"><span style=\"box-sizing: border-box; font-size: 14pt; font-family: 'times new roman', times, serif;\"><span style=\"color: #333333;\">The estimated cost of the Scheme would be approximately Rs. 1,542 crore which would be provided by the Government of India.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved\u00a0 a scheme for interest subvention of 2%\u00a0for a period of 12 months,\u00a0to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to eligible borrowers. The scheme will be extended to loans which meet the following criteria &#8211; outstanding as on 31st\u00a0March, 2020; and\u00a0not [&hellip;]<\/p>\n","protected":false},"author":59,"featured_media":315906,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[167,36],"tags":[13133],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/324218"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=324218"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/324218\/revisions"}],"predecessor-version":[{"id":324220,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/324218\/revisions\/324220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/315906"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=324218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=324218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=324218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}