Finance Minister announces Rs 3 lakh crore collateral free automatic loan for businesses

Agencies
May 13, 2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

Comments

JM
 - 
Thursday, 14 May 2020

Fully automatic loan..... not reachable to poor needy......

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coastaldigest.com web desk
June 18,2020

Kathmandu, June 18: Nepal's National Assembly on Thursday unanimously passed the Constitution Amendment Bill to update the country's political and administrative map incorporating three Indian territories. 

The new map also includes land controlled by India. It requires President Bidhya Devi Bhandari's approval.

India, which controls the region - a slice of land including Limpiyadhura, Lipulekh and Kalapani areas in the northwest - has rejected the map, saying it is not based on historical facts or evidence.

India has termed as untenable the "artificial enlargement" of territorial claims by Nepal after its lower house of parliament on Saturday unanimously approved the new political map of the country featuring areas which India maintains belong to it.

The National Assembly, or the upper house of the Nepalese parliament, unanimously passed the constitution amendment bill providing for inclusion of the country's new political map in its national emblem.

The bill was passed with all the 57 members present voting in its favour.

The dispute

The latest border dispute between the countries began last month after India inaugurated Himalayan link road built in a disputed region that lies at a strategic three-way junction with Tibet and China.

The 80km (50-mile) road, inaugurated by Indian Defence Minister Rajnath Singh, cuts through the Lipulekh Himalayan pass, considered one of the shortest and most feasible trade routes between India and China.

The road cuts the travel time and distance from India to Tibet's Mansarovar lake, considered holy by the Hindus.

But Nepal says about 19km of the road passes through its area and fiercely contested the inauguration of the road, viewing the alleged incursion as a stark example of bullying by its much larger neighbour.

Nepal, which was never under colonial rule, has long claimed the areas of Limpiyadhura, Kalapani and Lipulekh under the 1816 Sugauli treaty with the British East India Company, although these areas have remained under the control of Indian troops since India fought a war with China in 1962.

Comments

Angry indian
 - 
Sunday, 21 Jun 2020

acche din after deshbakth become ruling party...now even weakist country started conquring indian..what a shame on so0 called 56 inch chest..we need tiger leader not Pm who always speak in air and lie alot..

 

this is how an hindu nation is build ? Bjps cant rule india for more than 10 year...

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News Network
July 21,2020

New Delhi, Jul 21: Prime Minister Narendra Modi and President Ram Nath Kovind on Tuesday condoled the demise of Madhya Pradesh Governor Lalji Tandon.

Tandon, 85, passed away at 5:35 am on Tuesday after a prolonged illness.

Taking to Twitter, Prime Minister Modi posted a picture with Madhya Pradesh Governor and wrote, "Shri Lalji Tandon will be remembered for his untiring efforts to serve society. He played a key role in strengthening the BJP in Uttar Pradesh. He made a mark as an effective administrator, always giving importance of public welfare. Anguished by his passing away."
"Shri Lalji Tandon was well-versed with constitutional matters. He enjoyed a long and close association with beloved Atal Ji. In this hour of grief, my condolences to the family and well-wishers of Shri Tandon. Om Shanti," he added.

President Kovind expressed condolences saying that we have lost a legendary leader today.

"In the passing away of Madhya Pradesh Governor Shri Lal Ji Tandon, we have lost a legendary leader who combined cultural sophistication of Lucknow and acumen of a national stalwart. I deeply mourn his death. My heartfelt condolences to his family and friends," he tweeted.

His last rites will be performed at Gulala Ghat in Lucknow at 4:30 pm today.

Tandon was admitted to a hospital after complaining of breathing problems, difficulty in urination and fever. He has been undergoing treatment since June 11. 

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News Network
June 3,2020

New Delhi, Jun 3: Over 1 lakh scanned copies of Indians' national IDs, including Aadhaar, PAN card and passport, have been put on dark web for sale, cyber intelligence firm Cyble said on Wednesday.

The leaked data seems to have originated from a third party and not from the government system, according to a report by Cyble.

"We came across a non-reputed actor who is currently selling over 1 lakh Indian National IDs on the dark net. With such a low reputation, ideally, we would have skipped this; however, the samples shared by the actor intrigued our interest -- and also the volume. The actor is alleged to have access to over 1 lakh IDs from different places in India," Cyble said.

The personal data leaked by cyber criminals leads to various nefarious activities such as identity thefts, scams, and corporate espionage. Many criminals use the personal details in the IDs to win trust of the people over a phone call for fraudulent activities.

Cyber criminals leak personal data of 2.9 cr job-seeking Indians on dark web for free

The Cyble researchers acquired around 1,000 IDs from the seller and confirmed that the scanned IDs belong to Indians.

"Preliminary analysis suggests that the data originated from a third party, and no indication or artefact is indicating that it came from a government system. At this point, Cyble researchers are still investigating this further -- we are hoping to share an update soon," Cyble said.

The scanned ID documents indicate that the data may have been leaked from a company's data base in the segment where they have to comply with 'Know Your Customer' (KYC) norms.

"Cyble researchers have also learned about a surge in KYC and banking scams -- leaks such as this are often used by scammers to target individuals, especially elderlies," Cyble said.

The cyber intelligence firm has recommended people to refrain from sharing personal information especially financial information over phone, e-mail or SMS.

"Regularly monitor your financial transaction, if you notice any suspicious transaction, contact your bank immediately," the company said.

In May, Cyble showed two instances where personal data of 7.65 crore Indians have been put on sale in the dark web. In one instance, the seller claimed to have sourced data of 4.75 crore Indians from online directory Truecaller and in other, the seller claimed to have sourced from job websites.

Truecaller, however, had denied the claim of breach in its database.

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