Key Highlights of Modi's Speech :
- Home loans for poor and middle class people upto Rs 9 lakh will get 4 per cent subvention on interest and upto Rs 12 lakh will get 3 per cent subvention.
- For home loan in villages upto Rs 2 lakh for home renovation, banks will give loan with 3 per cent subvention on interest rate.
- Banks have been asked to raise cash credit limit to small business to 25 per cent from 20 per cent.
- All pregnant women will get Rs 6,000 in their bank accounts in an attempt to reduce child and woman mortality.
- Government to pay interest for 60 days on loans taken by farmers for Rabi season from district cooperative banks and societies.
- Credit guarantee for small traders to be raised to Rs 2 crore from existing limit of Rs 1 crore.
- In the next 3 months, 3 crore Kisan credit cards will be converted to RuPay cards which will enable them to buy/sell directly through the card and there will be no need to rush to banks.
Source : http://economictimes.indiatimes.com/