On 24th June, Union Cabinet meeting chaired by PM Narendra Modi approved a scheme for interest subvention of 2% for a period of 12 months, to all shishu loan accounts under pradhan Mandri Mudra Yojana to eligible borrowers. The scheme will incentivize people who will make regular repayments of loans. This move will help small businesses brace the disruption caused due to COVID-19

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