Mudra Bank To Give Loans To Small Business Persons With Minimal Paperwork : PM Modi

09 April, New Delhi

Prime minister Narendra Modi has said the Micro Units Development Refinance Agency (Mudra) bank will give loans to small business persons across the country at an affordable rate.

In an open letter addressed to small business persons released Thursday , Modi said the government is committed to strengthening the small business persons.

He said Mudra bank will give loans with minimal paperwork. Modi wrote in the letter the bank will run a Pradhan Mantri Mudra Yojana, which will give priority to SC/ST enterprises.

The letter also mentioned that all those having bank accounts through the Pradhan Mantri Jan Dhan Yojana will now also be able to get loans up to 5000 rupees for business needs.

The Prime Minister has said the central government is helping state governments separate rural agricultural supply through the Deen Dayal Upadhyaya Gram Jyoti Yojana so that all get 24×7 power.

Modi said Atal Innovation Mission has also been established to promote a network of world-class innovation hubs for those wanting to get into cutting-edge research and development. Modi said the government is setting up the SETU (Self employment and Talent Utilisation) mechanism to support all aspects of a start-up business.

In the letter the prime minister also mentioned about Pradhan Mantri Suraksha Bima Yojana which provides an accident insurance of two lakh rupees at one rupee per month premium.

Modi also wrote about Pradhan Mantri Jeevan Jyoti Bima Yojana a life insurance of two lakh rupees at one rupee per day premium.r Modi also said Atal Pension Yojana will give a pension of 5000 rupees per month to those persons who save 250 rupees per month.

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