This will give an assurance to the bank depositors & boost their trust in the formal banking system
Union Home Minister, Shri Amit Shah hailed the decisions of Union Cabinet today as “landmark”. Congratulating Prime Minister, Shri Narendra Modi, he said “these decisions are yet another manifestation of Modi Government's commitment towards self-reliance, welfare of poor and strengthening the economy in these challenging times.”
Lauding approval of the Animal Husbandry Infrastructure Development Fund worth ₹15,000 crore, Shri Amit Shah said “it will further strengthen Modi Government's efforts towards Atmanirbhar Bharat”. “This enormous boost to the dairy sector will surely surge employment and increase milk productivity and exports,” he said.
Welcoming private sector participation in Space activities, Shri Amit Shah said “this historic reform will unlock India's true space potential. IN-SPACe will accelerate growth of the space sector by promoting and guiding private industries in space activities.”
Union Home Minister said “Another major decision has been taken to provide huge relief to small businesses which have been adversely affected by Covid”. “To alleviate financial stress of Shishu loan borrowers under Mudra Yojana, Modi Cabinet has approved 2% interest subsidy for a period of 12 months for eligible borrowers,” he said.
Commenting on the Ordinance approved in Banking sector by the Modi Cabinet, Shri Amit Shah said “It will bring 1,482 Urban Cooperative and 58 Multi-State Cooperative Banks under the supervision of RBI”. “This will give an assurance to the bank depositors & boost their trust in the formal banking system by protecting their hard-earned money,” he said.