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......

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 28,2020

Jehanabad, Jan 28: Anti-CAA activist Sharjeel Imam, who was on the run after sedition charges were slapped against him for allegedly making inflammatory statements, was arrested from Bihar's Jehanabad district on Tuesday, the state's police chief Gupteshwar Pandey said.

The JNU scholar was wanted by police of several states, including Uttar Pradesh, Assam, Manipur, Arunachal Pradesh and Delhi.

"Sharjeel Imam has been arrested from his native Kako village in Jehanabad," Bihar's director-general of police Gupteshwar Pandey said.

Earlier in the day, Sharjeel Imam’s brother was picked up by police in a fresh attempt to trace the anti-CAA activist.

Police had raided his ancestral home on Sunday as it went hunting for him but Imam eluded the dragnet.

He is likely to be produced in a Bihar court where police will seek his remand for questioning. It is not yet clear whether he will be questioned in Bihar or taken to the national capital.

A graduate in computer science from IIT-Mumbai, Imam had shifted to Delhi to pursue research at the Centre for Historical Studies at Jawaharlal Nehru University.

He was slapped with a sedition case after a video of his purported speech went viral on social media in which he was heard speaking about "cutting off" Assam and the Northeast from the rest of India.

"If five lakh people are organised, we can cut off the Northeast and India permanently. If not, at least for a month or half a month. Throw as much 'mawad' (variously described as pus or rubbish) on rail tracks and roads that it takes the Air Force one month to clear it.

"Cutting off Assam (from India) is our responsibility, only then they (the government) will listen to us. We know the condition of Muslims in Assam....they are being put into detention camps," he was shown in the video as saying.

Meanwhile, reacting to Imam's arrest, Bihar chief minister Nitish Kumar said people have the right to protest but nobody can talk about the country's disintegration.

Kumar told reporters that police must have acted in accordance with law in arresting Imam and now the courts will take appropriate action.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 5,2020

Jun 5: Meerut Police on Thursday claimed that around 13,500 mobile phones in the country are running on the same IMEI, the number used to identify the device.

A case of fraud has been registered against the mobile phone manufacturing company and its service center, the police said.

The matter surfaced, after police personnel gave his mobile phone to the staff at cybercrime cell for examination, as the new phone was not working properly despite being repaired, Meerut SP (city) Akhilesh N Singh said.

The cyber cell found that around 13,500 other mobile phones are also running on the same International Mobile Equipment Identity (IMEI) as that of the police personnel's phone, the superintendent of police said.

He said the matter is a serious security issue.

Prima facie it appears to be negligence on part of the mobile phone company and criminals can use it to their advantage, Singh said.

He said a case has been registered under relevant sections of the law at a Medical police station and a team of experts has been called to look into the matter.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 6,2020

New Delhi, Aug 6 : With a single-day spike of 56,282 new COVID-19 cases and 904 deaths in the last 24 hours, India's COVID-19 tally reached 19,64,537 on Thursday.

With the increase of 904 deaths, the toll due to the disease now stands at 40,699 in the country, according to the Union Ministry of Health and Family Welfare (MoHFW).

The COVID-19 count includes 5,95,501 active cases and 13,28,337 cured/discharged/migrated patients.

Meanwhile, as per the MoHFW, the percentage of discharged patients stands at 67.62, while the active cases are at 30.31 in the country as of today.

The deaths reported due to the infection are currently at a little above two per cent of the total confirmed cases in the country.

Maharashtra with 1,46,268 active cases and 3,05,521 cured and discharged patients continues to be the worst affected. The state has also reported 16,476 deaths due to the infection.

Tamil Nadu has 54,184 active cases while 2,14,815 patients have been discharged after treatment in the state. 4,461 deaths have been reported due to COVID-19 in the state.

Andhra Pradesh with 80,426 active cases is the third on the list. There are 1,04,354 cured and discharged patients and 1,681 deaths reported from the state.

The national capital's active cases tally once again crossed the 10-thousand mark with 175 new cases being reported. Delhi now has 10,072 active cases and 1,26,116 cured and discharged patients. 4,044 people have lost their lives due to the disease in the Union Territory so far.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.