Finance is of key
importance in transforming business ideas into reality, Micro Units
Development and Refinance Agency
(MUDRA) loan plays a vital role in this process said Minister of state
for External Affairs General (Retd.) V. K. Singh today. He was the Chief
Guest at MUDRA Promotion Campaign in Mumbai. Shri Singh said that the
scheme aims at encouraging small entrepreneurs to start their business
by providing financial support to their ideas. He remarked that this
scheme has helped women and weaker section of the society. He appealed
to bankers to take feedback and plug the loopholes if any so that the
scheme can be implemented more effectively.
Shri Singh also said that farmers suicide can be tackled if a family
member of the farmer avails the MUDRA loan and starts some other
occupation so as to ease the financial stress of the family.
The Minister said that it is necessary to promote MUDRA loans and
encourage entrepreneurs to grow their businesses and create employment
as the government has limited employment opportunities.
Central Government seeks to promote digital payment methods to encourage
consumers and merchants to increasingly shift to these payment modes. To
facilitate this, MUDRA Promotion Camps are being arranged at 50
locations across the country to reach out to people and to facilitate
various modes of digital payments enabling users to transact anytime
from anywhere and create awareness on various financial inclusion
During the function two MUDRA Loan achievers shared their experiences
with the audience. MUDRA Loan Certificates were also distributed to some
of the beneficiaries.
Later Shri Singh inaugurated the stalls organized at the venue by the
participants and visited some of the stalls. Participants included
NABARD, Banks, Life Insurance Corporation of India, The New India
Assurance Company Limited, United India Insurance Company Limited, The
Oriental Insurance Company Limited, National Insurance Company Limited,
National Payments Corporation of India and Unique Identification
Development Authority of India.
Shri Arvind Sawant , Member of Parliament, Smt. Pankaja Munde, Minister
for Rural Development, Women and Child Development, Government of
Maharashtra and other dignitaries were present on the occasion.