Schemes of Government of India-Currency Bank: 

Prime Minister Money Scheme 

આ પોસ્ટ ગુજરાતી માં વાંચવા અહીં ક્લિક કરો

Money Bank: Prime Minister Money Scheme 
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Currency Bank: Prime Minister Money Scheme 

Prime Minister Narendra Modi, according to his promise, on April 8, 2015, a corpus fund of Rs 20 thousand crore and a credit guarantee corpus of Rs 3,000 crore With Micro Units Development and Refinance Agency Ltd (Mudra) Bank inaugurated. Finance Minister Arun Jaitley had announced this in the 2015-16 budget speech, which has been launched on the ground. 

How can the currency bank create a difference in the economy?

Most people, especially living in rural and remote areas of India, are outside the scope of the benefits of the formal banking system. Because of this, they do not have access to insurance, loans, lending and other financial instruments to help start or grow small businesses. Most people depend on local moneylenders for lending. There is a lot of interest to be paid on the loan. Often the situations become intolerable. For this reason, poor people are under debt. When the business is caught in failure, the moneylender exploits the life of the borrowers in their strength and other abusive ways.

According to the 2013 survey of NSSO, there are about 5.77 million small business units. Most of these are operating under sole proprietorship. These include trade, construction, retail and other small-scale activities. Compare this to the organized sector and the big companies who employ 1.25 crore people. Clearly these small businesses have huge potential for nutrition and exploitation and the government also understands it well. Today, there are no regulators in this area nor get financial support or support from the organized financial banking system. 

The main objectives of the currency bank are as follows: 

1. Regulating the lender and financing of micro finance and providing sustainability while ensuring regulation and inclusive participation in the micro finance system.
2. Cooperate in finance and borrowing activities to micro-finance institutions (MFIs) and lending agencies to small traders, retailers, self-help groups and individuals. 
3. Registering all the MFIs and starting the performance level for the first time and the system of preference. This will help in estimation and access to the MFIs before taking loans, which fulfill their needs and whose old record is most satisfactory. This will increase competitiveness in MFIs. The beneficiaries will get the benefit of this. 
4. Providing structured guidelines to the borrowers, who can be avoided or fail to take appropriate action on time when implementing the business. In the case of default, to accept the acceptable process or guidelines for recovering the outstanding money, the currency will help in making it.
5. Preparation of standardized rules, which will become the backbone of micro business in the future. 
6. Credit Guarantee Scheme for Guarantee for Loans given to Micro Enterprises. 
7. Provide appropriate technology to help in the process of monitoring and distribution of the capital delivered, loan and delivery. 
8. To develop an effective system for effectively providing small loans to small and micro enterprises, prepare appropriate framework under Prime Minister Money Scheme. 

Offering the major products, the 

currency bank has divided the borrowers into three parts: those who start a business, seek a loan in the middle position and those who want to go to the next level of development. 

In order to meet the needs of these three parts, the currency bank has introduced three debt instruments:

1. Infant: In its radius, loans up to Rs. 50 thousand rupees come. 
2. Teenage: In its scope there are loans ranging from Rs.50,000-5,000 rupees. 
3. Tarun: It covers a range of 5 to 10 lakh rupees. 

In the beginning, plans are limited to a few areas, such as "land transport, community, social and personal services, food products and textile product sectors". Over time, new schemes will be introduced, in which more areas will be included. 

Some future offerings: 

1. Money card 
2. Portfolio credit guarantee 
3. Credit enhancement 


currency loan Eligibility: 
Any citizen of India can avail the benefits of this scheme. Any person in the country who owns a business with himself or anyone can avail of the money loan through his document.

Important document 
to obtain loans under the exchange scheme is a simple process but have the following documents to its essentials: 



Self-verified certificate and two photographs 
caste certificates (ST / SC) 
documents, licenses and certificates related to industry 
to information industry 
currency For the loan, the currency bank has been launched in the country, along with the arrangement of currency cards. E. Currency lien is being provided by the country's largest bank SBI Bank under the currency scheme. 

Money scheme benefits: 
Under the money scheme, loan is being given to start small industries so that the work will not be stopped in the industries due to non-receipt of loan. If small industries grow, employment and country's economy will be good in the country.