NEW DELHI: Ahead of New Year, Prime Minister Narendra Modi on Saturday addressed the country and termed demonetization as "Shudhi Yagna".
Wishing the nation a Happy New Year, Prime Minister made several announcements, including two new housing schemes benefiting the economically backward sections as well as financial aid for pregnant women.
In a televised address, he added that law will deal with heavy hands with the dishonest, congratulating people for backing the government’s demonetization exercise.
TOP ANNOUNCEMENTS
8% interest rate will be guaranteed on deposits of up to Rs 7.5 lakh for 10 years for senior citizens; interest will be payable monthly. Rs 6,000 to be put into accounts of pregnant women in 650 districts for vaccination and other medical use. Banks have been asked to raise cash credit limit to MSME Units and small business to 25% from 20%. Government to stand credit guarantee for loans up to Rs 2 crore from current guarantee of Rs 1 crore, to MSME Units. 3% interest waiver on loan up to Rs 2 lakh for construction of houses in rural India. Government to pay interest for 60 days on loans taken by farmers for Rabi season from district cooperative banks and primary societies.ALSO READ:
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