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A new ‘Tarun Plus’ category has been created under the Mudra Scheme to offer loans above Rs 10 lakh and up to Rs 20 lakh and would be available to the entrepreneurs who have availed and successfully repaid previous loans under the Tarun category.

The Department of Financial Services, whose mandate covers the functioning of banks and financial institutions, said in a post on X, “Great news for small business owners! The guarantee coverage for #PMMY loans up to Rs 20 lakh will now fall under the Credit Guarantee Fund for Micro Units (CGFMU). Supporting dreams, one step at a time.”

Sharing details of the enhanced loan limit, a notification issued by Joint Secretary Prashant Kumar Goyal, said, “The Fund shall cover micro loans up to the specified limit (currently Rs 20 lakh) extended by Member Lending Institution(s) to an eligible borrower, provided that the lending institution applies for guarantee cover in respect of such loans so sanctioned within such time period and as per procedures prescribed by the fund for the purpose.”

“Further, Overdraft loan amount of Rs 10,000 sanctioned under PMJDY accounts shall also be eligible to be covered under Credit Guarantee Fund. It may be noted that micro loans under PMMY inclusive of overdraft under PMJDY, sanctioned since April 8, 2015 would qualify for guarantee cover under the scheme,” it said.

The statement said the increase in loan limit aims to further the overall objective of the Mudra Scheme, which is funding the unfunded.

“This enhancement is specifically beneficial to upcoming entrepreneurs facilitating their growth and expansion. The move is in alignment with the government’s commitment in fostering a robust entrepreneurial ecosystem,” said the statement.

Under the aegis of PMMY, MUDRA Ltd. has already been created to support development and financing of micro loans.

The schematic interventions of MUDRA Ltd. have been named 'Shishu', 'Kishor' 'Tarun' and ‘Tarun Plus’ to signify the stage of growth/development and funding needs of the beneficiary micro-unit/entrepreneur and also provide a reference point for the next phase of graduation/growth.

They are at present defined as Shishu, covering loans up to Rs 50,000; Kishor, covering loans above Rs 50,000 and up to Rs 5 lakh; Tarun covering loans above Rs 5 lakh and upto Rs 10 lakh and Tarun Plus, covering loans above Rs 10 lakh and up to Rs 20 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the ‘Tarun’ category.

--IANS

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A BJP insider said that efforts are on to organise ten rallies by the PM between November 7 and 14 before he leaves for a trip abroad.

He further stated that at least two rallies each will be organised in Konkan, Pune division, Khandesh (North Maharashtra), Marathwada and Vidarbha.

The Rashtriya Swayamsevak Sangh, which has already swung into action along with its various arms, is coordinating with the Mahayuti partners for the success of the PM’s rallies.

Campaigning for the 288 Assembly seats ends on November 18.

At the customary concluding rally, the Prime Minister may not be available due to his prior engagements. It is not just that there is demand for BJP nominees but the Eknath Shinde-led Shiv Sena and Ajit Pawar-led NCP are also desperately trying for rallies in their respective constituencies to be addressed by the Prime Minister.

During the General Elections, the PM had addressed around 19 rallies across Maharashtra despite the summer heat. He had even carried out a mega roadshow in Mumbai.

“The BJP has already sent its request to the Prime Minister’s Office and the party is continuously following it up with his office. The Prime Minister’s Office will take a final decision on his schedule. PM Modi is not just popular but he is respected and honoured across sections.

“The PM's rallies will also send a strong message that with the BJP-led government at the Centre, the Mahayuti government in Maharashtra will be ideal to further strengthen the development process. The double engine government will be necessary for Maharashtra to become a $1 trillion economy,” said a senior BJP functionary.

Another functionary said that the Prime Minister during his recent Maharashtra visits has already expressed the Centre’s resolve for Maharashtra to become the leading tourist destination and Mumbai to be the global Fintech hub.

During the ten year BJP-led government, Maharashtra has received Central aid in agriculture, water resources, education, health, skill development and it would further increase with the Mahayuti government coming back to power.

After PM Modi took over for the third time, the government cleared the Rs 76,000 crore Vadhvan port in the state.

He further added that the PM has been credited with giving Classical Status to Marathi language and this will be encashed during the poll campaign.

Meanwhile, the Aam Aadmi Party (AAP) founder and former Delhi Chief Minister, Arvind Kejriwal is expected to campaign for the Maha Vikas Aghadi partners comprising the Congress, Shiv Sena (UBT), NCP (SP) in Maharashtra.

The AAP has already declared its decision not to contest the state Assembly elections.

--IANS

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A day after Washington Sundar blew away New Zealand, it was Santner’s turn to torment the Indian batters through a stunning exhibition of varying his pace, line and length, flight and dip to pick his maiden five-wicket haul in Tests by bowling relentlessly from the commentary box end.

He was also well-supported by Glenn Phillips’ 2-26 and helped by some rash shot selection and lack of gumption from the Indian batters, who have now conceded a big lead to New Zealand, especially with India slated to bat last on the pitch. With this, India are now staring at a possibility of losing a Test series at home for the first time since 2012, till they conjure up something extraordinary to save the game.

In the morning, Shubman Gill and Jaiswal started well with a 49-run stand for the second wicket. But once Gill was trapped lbw by a quicker delivery from Santner, the wickets started tumbling for India.

The crowd at Pune was stunned into silence when Virat Kohli went for a pre-mediated slog-sweep off Santner, but he missed the low full toss which went below his bat to hit the stumps, leaving the ace batter shell-shocked.

Phillips struck with his first over of part-time off-spin as Yashasvi Jaiswal came forward to defend, but gave an outside edge to first slip. Rishabh Pant was next to fall, after his pre-mediated pull off Phillips went past his bat to hit the stumps.

With chance to play sweep shot blocked, Sarfaraz Khan aimed to go inside-out against Santner, but miscued the shot to mid-off. Santner had another moment of absolute joy when he trapped Ravichandran Ashwin lbw with a quicker delivery and cap off a brilliant session for New Zealand to leave India in disarray yet again.

Jadeja could have been out first ball post lunch when short leg dived forward to take the catch off his inside edge, which New Zealand didn’t review and replays later showed a spike on the ultraedge. He then put pressure back on Santner with two boundaries, before dancing down the pitch to hit Ajaz Patel for two sixes.

But Santner got his fifth wicket of the innings by getting a length ball to spin in from outside off-stump and caught Jadeja on the crease by trapping him lbw. Jadeja went for the review, but replays showed ball clipping leg-stump, as he walked back for 38.

Despite Sundar smashing two fours and a six off Ajaz, Santner swiftly ended India’s innings by knocking over Akash Deep’s off-stump and trapping Jasprit Bumrah lbw to lead the team off the field in ascendancy.

Brief Scores: New Zealand 259 in 79.1 overs lead India 156 in 45.3 overs (Ravindra Jadeja 38, Yashasvi Jaiswal 30; Mitchell Santner 7-53, Glenn Phillips 2-26) by 103 runs

--IANS

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