Govt rolls out loans for the needy

News:

• Seeking to provide loans to 57.7 million small businesses, the Micro Units Development and Refinance Agency (Mudra) has been taken up by a six-member joint panel comprising representatives from the government and the BJP for its proper implementation.
• The Mudra card, which will have the shape and size of an ATM card -would come in saffron colour and would also bear the photograph of Prime Minister Narendra Modi.
• Credit would be available in three categories: ‘Shishu’ for loans upto Rs 50,000; ‘Kishore’ for loans from more than Rs 50,000 to Rs 5lakh; and ‘Tarun’ for loans up to Rs 10lakh.

Source: IndiaToday