Stand-Up India and Mudra Yojana extended by Union Cabinet for 5 more years
AI summary
The Union Cabinet extended the Stand-Up India and Mudra Yojana schemes for five years, allocating ₹9,111 crore to expand collateral-free credit. The measures target women, SC/ST, and micro entrepreneurs with enhanced guarantee coverage and reduced fees.
Key takeaways
- The Union Cabinet approved a five-year extension for both credit guarantee schemes.
- Total allocation is ₹9,111 crore, split between Stand-Up India and Mudra Yojana funds.
- Stand-Up India guarantee cover increased to 85% with a 0.50% annual fee.
- Mudra Yojana guarantee fees dropped to 0.75% to support micro entrepreneurs.
Read the original at Hindustan Times
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