{"id":8803,"date":"2020-06-26T14:01:56","date_gmt":"2020-06-26T08:31:56","guid":{"rendered":"https:\/\/triumphias.com\/blog\/?p=8803"},"modified":"2020-06-26T14:01:56","modified_gmt":"2020-06-26T08:31:56","slug":"shishu-loans","status":"publish","type":"post","link":"https:\/\/triumphias.com\/blog\/shishu-loans\/","title":{"rendered":"Shishu Loans"},"content":{"rendered":"<section class=\"hero-section\" data-type=\"type-1\">\n<header class=\"entry-header\"><span style=\"color: #0000ff;\"><strong>Relevance: Prelims: Economy<\/strong><\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/allbankingalerts.com\/wp-content\/uploads\/2019\/08\/Shishu-kishore-tarun-types-of-mudra-loan.jpg\" alt=\"Mudra Loan \u2013 Eligibility, Interest Rates, Documents, Security ...\" \/><\/p>\n<p><strong>Why in news?<\/strong><\/p>\n<\/header>\n<\/section>\n<div class=\"entry-content\">\n<p>\u2022 Union Cabinet approved a scheme for interest subvention of 2% for a period of 12 months, to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to eligible borrowers.<\/p>\n<p><b>About:<\/b><\/p>\n<p>\u2022 The scheme will be extended to loans which meet the following criteria \u2013 outstanding as on 31st March, 2020; and not in Non-Performing Asset (NPA) category, as per Reserve Bank of India (RBI) guidelines, on 31st March 2020 and during the period of operation of the Scheme.<\/p>\n<p>\u2022 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.<\/p>\n<p>\u2022 The estimated cost of the Scheme would be approximately Rs. 1,542 crore which would be provided by the Government of India.<\/p>\n<p>\u2022 The Scheme will be implemented through the Small Industries Development Bank of India (SIDBI) and will be in operation for 12<br \/>\nmonths.<\/p>\n<p><b>Background:<\/b><\/p>\n<p>\u2022 Under PMMY, loans for income generating activities up to Rs. 50,000 are termed as Shishu loans.<\/p>\n<p>\u2022 PMMY loans are extended by Member Lending Institutions viz. Scheduled Commercial Banks, Non-Banking Finance Companies and Micro Financial Institutions, registered with Mudra Ltd.<\/p>\n<\/div>\n<p><strong>\u00a0<\/strong><\/p>\n<p><span style=\"color: #0000ff;\"><strong>For more such notes, Articles, News &amp; Views Join our Telegram Channel.<\/strong><\/span><\/p>\n<p><a title=\"Telegram Link\" href=\"https:\/\/t.me\/triumphias\" target=\"_blank\"><span style=\"color: #ff0000;\"><strong>https:\/\/t.me\/triumphias<\/strong><\/span><\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>Click the link below to see the details about the UPSC \u2013Civils courses offered by Triumph IAS.<\/strong> <\/span><span style=\"color: #ff0000;\"><strong><a style=\"color: #ff0000;\" title=\"Courses available\" href=\"https:\/\/triumphias.com\/pages-all-courses.php\">https:\/\/triumphias.com\/pages-all-courses.php<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relevance: Prelims: Economy Why in news? \u2022 Union Cabinet approved a scheme for interest subvention of 2% for a period<\/p>\n","protected":false},"author":1,"featured_media":7214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[123],"tags":[392],"class_list":["post-8803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-union-public-service-commission-upsc"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/8803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/comments?post=8803"}],"version-history":[{"count":1,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/8803\/revisions"}],"predecessor-version":[{"id":8804,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/8803\/revisions\/8804"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media\/7214"}],"wp:attachment":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media?parent=8803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/categories?post=8803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/tags?post=8803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}