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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.

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JM
 - 
Thursday, 14 May 2020

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

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News Network
January 30,2020

Mumbai, Jan 30: The Uttar Pradesh Special Task Force (STF) has arrested Dr Kafeel Khan from Mumbai airport for allegedly making inflammatory statements at AMU during protests against the Citizenship Amendments Act (CAA) last month, officials said.

Khan was arrested on Wednesday night with assistance from Mumbai Police at the airport when he arrived in the city to attend anti-CAA protests, an official said.

"Officials of the UP STF arrested Dr Kafeel Khan in a case which was registered at Civil Lines Police Station under section 153 A (promoting enmity between different groups) of IPC. Our police team helped our UP counterparts on their request," said an official from Mumbai Police.

He claimed that Khan had made inflammatory statements on December 12 last year during the protest near Bab e Syed Gate outside the Aligarh Muslim University in front of more than 600 students.

The official also alleged that the Gorakhpur doctor had made objectionable comments against Union Home Minister Amit Shah.

The FIR against Khan mentions that Swaraj India's president Yogendra Yadav was also present during the speech at AMU.

Following the arrest in the case, Khan was taken to the Sahar Police Station and after completing formalities he will be taken to UP on transit remand, the official said.

Khan, a paediatrician, had come to the limelight in 2017 when a controversy broke out after the death of over 60 children in less than a week at the BRD Medical College in Gorakhpur, UP.

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News Network
July 17,2020
New Delhi, Jul 17:  Congress leader Rahul Gandhi on Friday said that as India's COVID-19 tally has crossed 10,00,000 mark and issued a warning that by August 10, more than 20,00,000 people may be infected in the country. He called on the government to take concrete steps to control the pandemic.
 
Taking to Twitter, Gandhi marked his earlier tweet from July 14 that stated: "This week the figure will cross 10,00,000 in our country."
"The tally has crossed 10,00,000 mark. If COVID-19 continues to spread at the same speed, by August 10, more than 20,00,000 people will be infected in the country.
 
The government must take concrete, planned steps to stop the epidemic," he tweeted today.
With the highest single-day spike of 32,695 cases and 606 deaths, India's COVID-19 tally on Thursday reached 9,68,876, informed the Union Ministry of Health and Family Welfare on Thursday.
 
The total number of COVID-19 cases includes 3,31,146 active cases, 6,12,815 cured/discharged/migrated and 24,915 deaths. 

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News Network
April 13,2020

Thiruvananthapuram, Apr 13: Three more people in Kerala tested positive for novel coronavirus disease on Monday, said Chief Minister Pinarayi Vijayan.

"With 3 new COVID-19 cases, the total number of cases in the state has reached 378," said Vijayan at a press conference.

Giving a break-up of the three confirmed COVID-19 cases, he said, "Of the 3 cases, 2 are from Kannur and 1 is from Palakkad."

He further said, "Till date, 15,683 samples tested, out of which 14,829 tested negative."

However, the total number of positive cases is decreasing, the Chief Minister added.

According to a recent update by the Ministery of Health and Family Welfare, the total number of cases in the country has reached 9352.

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