Showing posts with label Government policy. Show all posts

Jan 8, 2016

Cabinet approves creation of a Credit Guarantee Fund for MUDRA loans

1/08/2016
Cabinet approves creation of a Credit Guarantee Fund for MUDRA loans

The Union Cabinet has approved creation of a Credit Guarantee Fund (CGF) for Micro Units Development Refinance Agency (MUDRA) loans. into MUDRA Small  Industries  Development  Bank  of  India (SIDBI)  Bank as a wholly owned subsidiary of SIDBI. The Fund is expected to guarantee more than Rs 1,00,000 crore worth of loans to micro and small units in the first instance.


Features of scheme
  • Credit Guarantee Fund for MUDRA Units (CGFMU) will guarantee loans sanctioned under Pradhan Mantri Mudra Yojana (PMMY) to reduce the credit risk to Banks and other financial intermediaries who are Member Lending Institutions (MLIs).
  • National Credit Guarantee Trustee Company NCGTC Ltd  will manage  and  operate  various  credit  guarantee  funds and shall  be  the  Trustee  of  the
  • NCFTC will be a wholly-owned  company  of  Union Government  and shall be constituted  under  the  Companies  Act,  1956 (2013).
  • Under this scheme the guarantee  would  be  provided  on  portfolio  basis  to  a  maximum  extent of  50 per cent  of  Amount  in  Default  in  the
MUDRA Bank
  • MUDRA  Bank and  a Credit  Guarantee  Fund was proposed to be set up with  a refinance corpus of Rs. 20,000  crore and a corpus of Rs.3,000  crore respectively as per the Budget  Speech for 2015-16.
  • As a  precursor  to  the  launch  of  the  Pradhan  Mantri  MUDRA  Yojana  (PMMY) in April, 2015, MUDRA Ltd.  was set up as a corporate subsidiary  of SIDBI  in March, 2015.
  • The RBI has allocated Rs 20,000 crore and the first tranche’ of Rs 5000 crore has been received by MUDRA as refinance.

Oct 9, 2015

Rajasthan Government unveils Rajasthan Startup Policy – 2015

10/09/2015
Rajashthan Government has unveiled Rajasthan Startup Policy- 2015 to galvanize the start-up ecosystem in the state and provide them required sustenance to the entrepreneurial talent.
State’s first start-up policy was unveiled by Chief Minister Vasundhara Raje at Jaipur in the Rajasthan Startup Fest 2015.

Key features of Policy

  • Aims to strengthen the start-up eco-system in the state by setting up 50 incubators or accelerators like establishments.
  • Seeks to support and incubate around 500 innovative start-ups from the state and create 100,000 square feet of incubation space.
  • Mobilise angel and venture capital of 500 crore rupees for start-ups in the next five years. They will be provided with sustenance allowance of 10,000 rupees per month for a year.
  • Start-ups will be also provided with marketing assistance of 10 lakh rupees at launch stage

Sep 30, 2015

Union Government unveils Green Highways Policy 2015

9/30/2015
 
 
Union Government has launched Green Highways (Plantation, Transplantation, Beautification & Maintenance) Policy-2015 to promote greening of National Highway corridors across the country.
The policy was unveiled by Union Road Transport and Highways Minister Nitin Gadkari in New Delhi.
 

About Green Highways Policy 2015

  • Promote greening and development eco-friendly National Highway corridors across the country with participation of farmers, private sector and government institutions including Forest Department.
  • It will address the issues that lie in the road of development and pave the way towards sustainable development.
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