इंडियन आवाज़     23 Feb 2024 03:20:00      انڈین آواز

Govt approves credit guarantee fund for MUDRA loans

cabinetUnion Cabinet today approved creation of a Credit Guarantee Fund for Micro Units Development Refinance Agency, MUDRA, loans and to convert MUDRA Limited into MUDRA Small Industries Development Bank of India (SIDBI).

The bank will be a wholly owned subsidiary of SIDBI. The Fund is expected to guarantee loans worth more than one lakh crore rupees to Micro and Small units in the first instance.

The MUDRA Bank will undertake refinance operations and provide support services with focus on portal management and data analysis apart from any other activity entrusted and advised by Government.

Giving details of the decision, Finance Minister Arun Jaitley said, the total corpus for MUDRA bank will be three thousand crore rupees and around one crore and 73 lakh entrepreneurs will be benefited . Mr Jaitley said, MUDRA will help in increasing the economic activity at the ground level.

The Cabinet approved Hybrid Annuity based Public Private Partnership (PPP) model under Namami Gange Programme to ensure performance, efficiency, viability and sustainability.

In this model, a part of the capital investment of upto 40 per cent will be paid by government through construction linked milestones and the balance through an annuity over the contract duration upto 20 years.

The decision paves the road ahead for complete reform in the wastewater sector in India, implementation of projects in a fast track mode and ensure effective utilisation of funds released under 100 per cent funded ‘Namami Gange’ – central sector scheme.

In another decision, Cabinet gave its ex-post facto approval to the Agreement between India and Bahrain on Cooperation in Combating International Terrorism, Transnational Organized Crime and Trafficking in Illicit Drugs.

The agreement is aimed at improving the effectiveness of both countries in the prevention, investigation, prosecution and suppression of crimes including crime relating to terrorism, transnational organized crime and drug trafficking.

The Cabinet also gave its ex-post-facto nod to MoU with Bangladesh for Mode of Operation of Border haats. The haats will be established after identification of locations in consultation with Bangladesh and concerned States.

Border haats promote traditional system of marketing of local produce through local markets on currency/ barter basis.

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