Daily Current Affairs 2020 Centre announces 'Mudra Shishu loan' for small businesses and cottage industries | Daily Current Affairs 2020

Centre announces ‘Mudra Shishu loan’ for small businesses and cottage industries

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Centre has taken several steps so that shopkeepers do not suffer due to the COVID-19 pandemic.

Government has asked shopkeepers not to worry about restarting shops and handcarts as Unlock 1.0 begins tomorrow. 

AIR Correspondent reports that the Government has pledged to make an Atma Nirbhar Bharat. A 1500 crore interest subvention for small business and cottage industries has been announced under Mudra Shishu loan. Under this scheme, one lakh beneficiaries can avail interest benefit of 2 per cent for a year. 

A Rs 5000 crore package was announced for the roadside hawkers. Under this, 50 lakh street vendors can avail loan upto Rs 10,000. Street vendors can contact any nationalised bank to avail the benefit. 

Source: News On Air

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