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In May 2020, the Union Finance Minister Nirmala Sitharaman has announced how much per cent interest subvention on loans given under MUDRA-Shishu?

In May 2020, the Union Finance Minister Nirmala Sitharaman has announced how much per cent interest subvention on loans given under MUDRA-Shishu? Correct Answer 2

  • Union Finance Minister Nirmala Sitharaman has announced a 2 per cent interest subvention on loans given under MUDRA-Shishu. 
  • It is the smallest category of loans provided under the Micro Units Development and Refinance Agency (MUDRA).
  • People having MUDRA-Shishu loans (which are up to Rs 50,000) will be eligible for this subvention scheme.
  • Total relief will be worth Rs 1,500 crore.
  • Pradhan Mantri Mudra Yojana (PMMY) was launched in April 2015 to give loans up to Rs 10 lakh under three covers -- Shishu, Kishor, and Tarun to non-corporate, non-farm small or micro-enterprises.

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