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:
“Mitron” mean completely different this time
Benefits, harms and failures of demonetization, will it reduce corruption? (Evaluation of demonetization after 50 days - part II)
'Farmer's loan waiver' may be announced by PM Modi, evening today
Demonetization: How much success over terror and black money?
Rs. 1,45,000+ Crore black money eliminated till now: First Answer to Rahul's question
