Modi Ji Surprise to Small Business in New Year Speech 2017

On the 31st Dec 2016 Modi New year speech gives the surprise to small business. there is an announcement regarding the CGS which is increasing 2 Cr now. so Let’s learn how to apply for the Modi New Scheme Loan under the MSME.

Here is the participated Bank list – https://www.cgtmse.in/List_Of_MLIs.aspx

Key Announcement in New Year Speech of Narendra Modi :

– Home loans for poor and middle class people upto Rs 9 lakh will get 4 per cent subvention on interest and upto Rs 12 lakh will get 3 per cent subvention.

– For home loan in villages upto Rs 2 lakh for home renovation, banks will give loan with 3 per cent subvention on interest rate.

– Banks have been asked to raise cash credit limit to small business to 25 per cent from 20 per cent.

– All pregnant women will get Rs 6,000 in their bank accounts in an attempt to reduce child and woman mortality.

– Government to pay interest for 60 days on loans taken by farmers for Rabi season from district cooperative banks and societies.

– Credit guarantee for small traders to be raised to Rs 2 crore from existing limit of Rs 1 crore.

– In the next 3 months, 3 crore Kisan credit cards will be converted to RuPay cards which will enable them to buy/sell directly through the card and there will be no need to rush to banks.