HomeArticle2. Important - Scheme of India (Banking Divisions)

2. Important – Scheme of India (Banking Divisions)

Important – Scheme of India

Pradhan Mantri Mudra Yojana

The scheme was launched on 8th April, 2015. Loan up to Rs.50,000 under the scheme ‘Shishu’ sub-scheme; Loan up to Rs.50,000 to Rs.5.0 lakh under the sub-scheme ‘Kishore’; And under the sub-scheme ‘Tarun’ loan is given from Rs.5.0 lakh to Rs.10.0 lakh. No collateral is required to avail this loan.

These measures are aimed at increasing the confidence of young, educated or skilled workers who will now be able to fulfill the aspiration of becoming a first generation entrepreneur; Will also be able to actively expand the existing small businesses. As on 31.03.2019, Rs 3,21,722 crore (Rs 142,345 crore – Shishu, Rs 104,386 crore – Kishore and Rs 74,991 crore – Tarun category) have been disbursed in 5.99 crore accounts.

Stand up India Scheme

The Stand Up India scheme was launched by the Government of India on 5th April 2016. The scheme facilitates bank loans between Rs.10 lakh and Rs.1 crore to at least one SC/ST borrower and at least one woman borrower from each bank branch for setting up greenfield enterprises.

These enterprises may be in the manufacturing, service or trading sectors. The scheme which is being implemented by all scheduled commercial banks is to benefit at least 2.5 lakh borrowers. The scheme is operational and loans are being provided through scheduled commercial banks across the country.

STAND UP INDIA SCHEME To encourage entrepreneurship among women, SC and ST category i.e. section of the population who are facing extreme difficulties due to inadequate and late credit as well as lack of mentorship/ mentorship. doing the work. The scheme envisages relaxation of the institutional credit structure to reach out to the under-served sections of the population for starting greenfield enterprises.

It caters to the needs of both ready and trainee borrowers. To take forward the collateral free coverage, the Government of India has set up a Credit Guarantee Fund (CGFSI) for Standed Up India. Apart from providing credit facilities, the Stand Up India scheme is also promoting the extension of handholding assistance to potential borrowers.

There is also a provision to include it with the schemes of the Central / State Government. Applications under the scheme can also be made online. An online monitoring system known as Stand Up India Portal ‘Stand Up Mitra’ is being used. Approved Rs.16,085 crore has been disbursed in 72,983 accounts (59,429-Female, 3,103-Scheduled Tribe and 10,451-Scheduled Caste) as on 31.03.2019.

Pradhan Mantri Vaya VandNa Yojana

Pradhan Mantri Vaya Vandana Yojana was launched to provide social security to the aged above 60 years of age due to uncertain market conditions along with providing protection against future reduction in interest income. The scheme is being implemented through Life Insurance Corporation of India (LIC) and the scheme is open for subscription till 31st March, 2023.

PMVVY proposes a return of 7.40% p.a. for the financial year 2020-21 for a policy term of 10 years. In subsequent years the scheme is in operation by re-assessment of the scheme at the end of this period subject to a ceiling of 7.75% and applicable rate of return of Senior Citizen Savings Scheme (SCSS) on 1st April of the financial year. The assured rate of return will be reset on an annual basis.

Pension under this scheme is paid on monthly, quarterly, half-yearly or yearly basis depending on the option given by the subscriber. Under the scheme, the minimum purchase price is Rs 1,62,162 for a minimum monthly pension of Rs 1000 and the maximum purchase price is Rs 15 lakh per senior citizen for getting pension amount of Rs 9,250 per month.


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