Government announces 2% interest subsidy for small borrowers under Mudra Yojana !!
New Delhi: The government on Wednesday approved a 2 per cent interest subsidy scheme for Shishu loan account holders under the Mudra Yojana to help small businesses tide over difficulties created by the lockdown following outbreak of coronavirus disease. Under Shishu category, lenders provide collateral-free loans of up to Rs 50,000. The 2% interest subvention is estimated cost of the exchequer approximately Rs 1,542 crore, Information and Broadcasting Minister Prakash Javadeka told to reportersthat after the Cabinet meeting. “Union Cabinet chaired by Prime Minister approved the scheme for interest subvention…