Govt. doubles loan limit under Mudra Yojana

Indian government has recently doubled the loan limit under the Pradhan Mantri Mudra Yojana (PMMY) from ₹10 lakh to ₹20 lakh.

This change was announced in the Union Budget 2024-25 by Finance Minister Nirmala Sitharaman and aims to support the growth and expansion of micro and small enterprises.

Key Highlights: 

New Category: A new category called Tarun Plus has been introduced for loans above ₹10 lakh and up to ₹20 lakh. This is available to entrepreneurs who have successfully repaid their previous loans under the Tarun category.

About the Pradhan Mantri Mudra Yojana 

The Pradhan Mantri Mudra Yojana (PMMY) is a flagship scheme launched by the Government of India to provide financial support to micro and small enterprises.

Key Highlights Launch Date: PMMY was launched on April 8, 2015. 

Objective: The primary aim is to provide financial assistance to small businesses and entrepreneurs who lack access to traditional banking services, thus promoting financial inclusion.

Loan Categories: The scheme offers three types of loans, categorized based on the stage of business development:

Regulations: The scheme is regulated by the Micro Units Development and Refinance Agency (MUDRA), which provides refinancing to lending institutions.

Snippets 29-10-2024

Centre to relaunch mission to preserve ancient manuscripts

The Union Ministry of Culture has announced plans to relaunch and revitalize the National Mission for Manuscripts (NMM). This initiative aims to enhance the preservation of India's ancient manuscripts.

Key Highlights: 

Revival: The NMM, established in 2003 under the Indira Gandhi National Centre for the Arts (IGNCA), is being revitalized to strengthen conservation efforts.

Autonomous Body: The Ministry is considering converting the NMM into an independent, autonomous body named the National Manuscripts Authority. Objectives: The mission aims to identify, document, conserve, and make accessible India's manuscript heritage.