Interest Subvention Scheme for MUDRA - Shishu Loan
On 24th June, 2020, Union Cabinet approved a scheme for interest subvention of 2%for a period of 12 months, to allShishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY) to eligible borrowers.
Need
- The ongoing COVID-19 crisis and the consequent lockdown has led to severe disruption of business for micro and small enterprises which are funded through Shishu Mudra loans.
- Small businesses typically function on thin operating margins, and the current lockdown has had a severe impact on their cash flows, jeopardizing their ability to service their loans.This could lead to default in repayment and have a resultant impact on ....
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