Monthly GK Banking Capsule 2019

August 2019

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MONTHLY GENERAL KNOWLEDGE BANKING &
FINANCE CAPSULE
(August 2019)
Banking News
BoC to offer regular banking services in India
• The RBI has allowed Bank of China to offer regular banking
services in India.
• All commercial banks, like SBI, HDFC Bank, PNB and ICICI
Bank, are in the Second Schedule.
• Banks falling under this schedule have to adhere to the
norms of the RBI.
• The name of 'The Royal Bank of Scotland plc' has been
changed to 'NatWest Markets Plc' in the Second Schedule.
Bank of China (BoC)
• CEO: Gao Yingxin
• Headquarters: Central, Hong Kong
• Founded: 1st October, 2001
SBI:1st bank to link up with China pay. sys.
• The SBI's Shanghai branch is now connected to China's
National Advance Payment System (CNAPS), becoming the
first Indian Bank to operationalise it.
• The CNAPS was launched in 2008 by People's Bank of
China (PBOC).
• It provides real-time settlement services for all payments
cleared in mainland China, as well as in all clearing banks
in offshore yuan centers, such as Hong Kong.
State Bank of India (SBI)
• Chairman: Rajnish Kumar
• Headquarters: Mumbai
RBI imposed fine on 7 PSBs
• The Reserve Bank has imposed a collective penalty of ₹11
crore on seven public sector banks for violating norms on
current account opening.
• Allahabad Bank and Bank of Maharashtra have been
imposed a fine of ₹2 crore each, Bank of Baroda, Bank of
India, Indian Overseas Bank and United Bank of India have
been fined ₹1.5 crore each, while Oriental Bank of
Commerce with a penalty of ₹1 crore.
Reserve Bank of India (RBI)
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August 2019
• Governor: Shaktikanta Das
• Headquarters: Mumbai
• Founded on: 1st April 1935
RBI imposed ₹50 lakh fine on SBI
• The Reserve Bank has imposed a penalty of ₹50 lakh on SBI
for non-compliance relating to reporting of frauds.
• RBI has slapped penalties on eight commercial banks,
including, Punjab National Bank and Bank of Baroda, for a
host of violations.
• RBI imposed a penalty of ₹50 lakh on PNB for delay in
reporting of fraud in the account of Kingfisher Airlines.
RBI imposed penalty of Rs 8.5 cr on 11 banks
• The RBI has imposed a monetary penalty on 11 banks for
non-compliance with certain provisions frauds
classification and reporting by commercial banks.
• The banks are Bank of Baroda, Corporation Bank, Federal
Bank, Indian Overseas Bank, Jammu & Kashmir Bank,
Oriental Bank of Commerce, Punjab & Sind Bank, Punjab
National Bank, State Bank of India, UCO Bank and United
Bank of India.
DBS Bank India ties up with Social Alpha
• DBS Bank India has tied up with Social Alpha to mentor
enterprises that focus on sectors such as inclusion,
healthcare, and environment.
• DBS Bank will also give an annual programme grant of ₹1
crore.
• DBS Bank will mentor and support three ventures over the
next 18 months.
• This includes Even Cargo, Trust Circle, and Incredible
Devices.
DBS Bank
• CEO: Piyush Gupta
• Headquarters: Singapore
ADB to provide $200 million to Maharashtra
• Asian Development Bank (ADB) has approved a USD 200
million loan for improving road infrastructure in 34
districts of Maharashtra.

• The aim of the project is to connect rural areas with
markets and services.
• Roads in rural areas would be upgraded to all weather
standards which will boost links between local residents
and economic centres across the state.
Asian Development Bank (ADB)
• President: Takehiko Nakao
• Headquarters: Philippines
OBC, IDBI Bank cut MCLR up to 15 basis points
• Oriental Bank of Commerce and IDBI Bank announced a
cut in the range of 0.05 to 0.15 percentage point in the
marginal cost of funds based lending rates (MCLR).
• Oriental Bank of Commerce has decided to decrease its
MCLR by up to 10 basis points across various tenors.
• IDBI Bank announced a reduction of 0.10 percentage point
in its one-year MCLR to 8.95%
MCLR
Marginal Cost of Funds based Lending Rate (MCLR) is the
minimum interest rate, below which a bank is not
permitted to lend.
SBI extended tenure of MD by 2 years
• SBI has extended the term of office of its Managing
Director Dinesh Kumar Khara for further period of two
years.
• The Appointments Committee of the Cabinet approved the
proposal of the Department of Financial Services for
extension of his tenure.
• He was appointed MD of SBI on 10 August 2016 for a
period of three years which was extendable by two years
after review of his performance.
PNB Housing Finance raises Rs 522 cr via ECB
• PNB Housing Finance raised fresh equity of Rs 522 crore
($75 million) as External Commercial Borrowing (ECB) from
Sumitomo Mitsui Banking Corporation (SMBC) of
Singapore.
• The ECB is under the Reserve Bank of India's automatic
route of approval and the proceeds will be used by the
company as per the applicable RBI guidelines.
• Sanjaya Gupta is the Managing Director of PNB Housing
Finance.
PNB Housing Finance
• MD & CEO: Sunil Mehta
• Headquarters: New Delhi
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Jana SFB gets Scheduled Bank status
• Jana Small Finance Bank Ltd, which commenced banking
operations in March 2018, has got the status of a
Scheduled Bank.
• The Government notified this on 27 July 2019, putting Jana
Small Finance Bank on the list of the banks included in the
second schedule of RBI Act 1934.
• Ajay Kanwal is the MD & CEO of Jana Small Finance Bank.
Jana SFB
• MD & CEO: Ajay Kanwal
• Headquarters: Bengaluru
Scheduled Banks
Scheduled Banks in India refer to those banks which have
been included in the Second Schedule of Reserve Bank of
India Act, 1934. RBI in turn includes only those banks in
this Schedule which satisfy the criteria laid down vide
section 42 of the said Act.
UCO, Allahabad bank slashed MCLR
• Allahabad Bank and UCO Bank slashed marginal cost of
fundsbased lending rate (MCLR) across all tenors.
• Allahabad Bank has reduced its MCLR by 15 to 20 basis
points (bps) for different tenors, effective from August 14,
2019.
• UCO Bank has cut the same by 15 bps across all tenors.
• The one-year MCLR is the rate based on which the retail
loans such as home and car advances are linked.
UCO Bank
• CEO: Atul Kumar Goel
• Headquarters: Kolkata
Allahabad Bank
• MD & CEO: S. S. Mallikarjuna Rao
• Headquarters: Kolkata
ADB signs pact to invest $23 million
• The Asian Development Bank (ADB) signed an agreement
to invest USD 23 million in a debt instrument being issued
by GRIL.
• The amount will help GR Infraprojects Limited’s (GRIL) in
scaling up the construction of roads and highways in India
through the purchase of new building equipment.

• GRIL is an engineering, procurement, and construction
company in India.
RTGS System To Open At 7 AM
• In order to promote digital transactions, the Reserve Bank
of India (RBI) has extended the customer transactions
timing for Real-Time Gross Settlement (RTGS) system by
an hour.
• Funds can be transferred through the RTGS system from 7
am instead of 8 am from 26 August 2019.
• At present, RTGS system is available for customer
transactions from 8 am to 6 pm.
Bandhan Bank launched co-branded credit card
• Bandhan Bank launched a co-branded credit card in
association with Standard Chartered bank.
• This credit card would be offered to 40 lakh savings bank
account holders across the 1,000 branches of Bandhan
Bank.
• As part of the tie-up, while Standard Chartered bank will
take the credit risk, Bandhan Bank will be responsible for
identifying and issuing cards to its customers.
CVC constituted panel to examine bank fraud
• The Central Vigilance Commission (CVC) has constituted
Advisory Board for Banking Frauds (ABBF) to examine bank
fraud of over 50 crore rupees and recommend action.
• The panel was previously known as the Advisory Board on
Bank, Commercial and Financial Frauds.
• The ABBF headed by former Vigilance Commissioner T M
Bhasin has been formed in consultation with the RBI.
Canara Bank launched OTP facility
• Public sector lender Canara Bank has launched the first
OTP facility for ATM withdrawals.
• In order to offer a more secured and safe system, Canara
bank will activate OTP facility for cash withdrawals of Rs
10,000 or more in a day.
• This move is in line with banks trying to take security
measures to safeguard customers who use debit cards to
withdraw cash at ATMs.
SIDBI partnered with Incuspaze
• Small Industries Development Bank of India (SIDBI) has
partnered with Incuspaze Solutions Private Limited
(Incuspaze) to open a first-of-itskind co-working space.
• This coworking space is exclusively designed for MSMEs
and startups and named @Workspaze.
• It is a fully furnished office equipped with training and
conference room, fast-speed internet, etc.
Indian Bank opened MSME processing centre
• Indian Bank has opened MSME CPC (centralised processing
centre) in Chennai.
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• The centralised processing centre will give a boost to the
bank’s MSME portfolio and will lead to speedy disposal of
micro, small and medium enterprises’ loans.
• The bank has also deployed skilled manpower in the CPC
to improve credit quality and shorten transaction
processing time.
Govt announced mega merger of pub. sec. banks
• The government has announced the merger of ten public
sector banks into four banks.
• It announced the merger of Oriental Bank of Commerce
and United Bank with Punjab National Bank as well as the
merger of Canara Bank and Syndicate Bank.
• The merger of Union Bank of India, Andhra Bank and
Corporation Bank and the consolidation of Indian Bank
with Allahabad Bank was also announced.
Financial News
India at 7th Spot in GDP Rankings of 2018
• India has slipped to the 7th spot in the global GDP rankings
of 2018.
• The UK and France have raced ahead and taken the fifth
and the sixth spots respectively.
• As per the data compiled by the World Bank, in 2017, India
was the fifth-largest economy while France stood at
number seven.
• China was the second-largest economy with $13.6 trillion,
while Japan stood third with $5 trillion.
NBFCs won't charge loan foreclosure penalties
• The Reserve Bank barred non-banking finance companies
from charging pre-payment penalties or foreclosure
charges from individual borrowers.
• Foreclosure charges are part of the fee income for any
lender and adds to its bottomline.
• These direction covers both deposit-taking and non-
deposit-taking NBFCs which are considered systemically
important ones.
Government approved proposal given by RBI
• The government has approved a proposal given by the RBI
on draft modalities of the guarantee to operationalize the
Budget announcement.
• This is in regard to one-time partial credit to the Public
Sector Banks for purchase of high-rated assets of
financially sound Non-banking financial companies.
• The Department of Financial Services would put in place
an oversight mechanism for this scheme.
Crisil cuts FY20 GDP growth forecast to 6.9%
• Ratings agency Crisil has cut its forecast for GDP growth in
2019-20 to 6.9% from its earlier forecast of 7.1%, citing
weak monsoon, slow global growth and poor high-
frequency data for the first quarter of the financial year.

• Crisil also expects corporate sector growth to slow to 8% in
2019-20.
• It also said that banking sector NPAs are expected to come
down to about 8% by the end of 2019-20
RBI updated fit & proper norms for PSB boards
• Members of Parliament, state legislatures, or local bodies
such as municipal corporations cannot be on the boards of
public sector banks, as per RBI.
• Also, partners of chartered accountancy firms engaged as
statutory central auditors at any public sector bank cannot
join the boards of these banks.
• Candidates for the post of board members should also not
be a member of any rival bank.
RBI cuts repo rate by 35 basis points
• The RBI's monetary policy committee lowered its repo rate
by an unconventional 35 basis points to 5.4%.
• This is the fourth reduction in a row of its key policy rate
since Shaktikanta Das took over as the governor of the
central bank in December 2018
• The path of CPI inflation is now projected at 3.1% for the
second quarter of FY20 and 3.5-3.7% for second half of
FY20.
Repo Rate
Repo Rate is the rate at which the Reserve Bank of India
(RBI) lends money to commercial banks. By controlling the
Repo Rate, and the lending rates to commercial banks, the
RBI also indirectly affects the lending rates granted by
commercial banks to end consumers.
SGX and NSE to operate jointly in GIFT City
• SEBI approved Singapore Stock Exchange and National
Stock Exchange of India Ltd to operate jointly in Gujarat
International Finance Tec-City, Gandhinagar.
• The two entities will create a new platform for trading
called NSE International Financial Service Centre (IFSC)-
SGX Connect.
• NSE-IFSC will allow trading in Nifty index derivatives and
single-stock derivatives of Nifty’s 50 constituent.
RBI opened liquidity tap for stressed NBFCs
• The RBI announced 2 key measures to help nonbank
financial companies.
• The first initiative deals with harmonisation of single
counterparty exposure limit for banks’ exposure.
• The second initiative deals with credit to the priority
sector.
• Detailed guidelines on the above measures will be issued
by the end of August 2019.
Business and Economy
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• The RBI plans to make the online payment system, the
National Electronic Funds Transfer (NEFT), available 24x7,
in what may provide a boost to the government’s digital
payments plan.
• The RBI has decided to set a Central Payment Fraud
Registry to track frauds in the payment systems. Payment
system participants will be provided access to this registry
for near-real-time fraud monitoring.
Business and Economy
• Within hours of a steeper 35 basis points reduction in the
repo rates by the Reserve Bank, the State Bank of India
announced a 15 basis points reduction in its lending rates.
The new rates of 8.25 will be effective from August 10,
2019.
• PNB has recovered ₹278.66 crore as penalty in the
financial year 2018-19 from the poor account holders for
not maintaining a minimum balance.
NBFCs to receive more liquidity support
• The RBI has allowed banks’ lending to NonBanking
Financial Companies (NBFCs) for on-lending to agriculture,
micro and small enterprises, and housing to be classified
as priority sector lending, up to specified limits.
• The RBI raised any bank’s exposure limit to a single NBFC
from the existing 15% to 20% of tier-1 capital.
• The idea is to ease liquidity pressure in NBFCs.
NCAER sees GDP growth at 6.2%
• Economic think tank NCAER (National Council of Applied
Economic Research) expects the agriculture gross value
added (GVA) to remain flat in 2019-20, pulling down the
country’s economic growth rate to 6.2% in FY20, from
6.8% in FY19.
• The NCAER’s projection for the economic growth rate is
the lowest among the various estimates that have come so
far
EnKash launches corporate credit card for SMEs
• Business-to-business payments startup EnKash on 9
August 2019 launched the country's first corporate credit
card called 'Freedom Card' for small and medium
enterprises (SMEs).
• The Freedom Card would give SMEs and startups the
freedom to avail credit facility for immediate needs and to
manage their liquidity.
• The card caters to the varied billing cycles as per the
working capital cycles.
Centre amended National Housing Bank Act
• The government has activated two Budget proposals laid
out to provide relief to the Non-Banking Finance
Companies (NBFCs).
• The National Housing Bank Act has been amended to bring
housing finance companies (HFCs) under the RBI’s ambit.

• Also, banks can now classify the credit provided to NBFCs
(for example, HFCs) for on-lending as priority sector
lending.
RBI to issue revised norms
• Housing finance companies (HFCs) will be treated as a
category of non-banks, as per RBI.
• It will release a revised regulatory framework for these
entities.
• This comes after the Finance Act, 2019 amended the
National Housing Bank Act, 1987, conferring certain
powers for regulation of HFCs with the Reserve Bank of
India.
Online land revenue payment system launched
• Odisha has launched the online land revenue payment
system in the state on 15 August 2019.
• Developed by NIC Bhubaneswar, the system will enable
farmers to make payments within minutes and get rent
receipts.
• This is the first of its kind initiative by the state Revenue
department under the Odisha government's '5-T mantra'
to provide better services to the people.
Debt waiver for 'small distressed borrowers'
• The government plans to give debt waiver for small
distressed borrowers under the insolvency law
framework.
• The proposed waiver would be offered as part of 'Fresh
Start' provisions under the Insolvency and Bankruptcy
Code (IBC).
• The IBC provides the framework to deal with distressed
assets through a market-driven and time-bound process.
SEBI announced reward of Rs.1 crore
• SEBI has announced a reward of upto Rs.1 crore for
informants willing to provide credible information
regarding insider trading cases.
• This will be a part of the detailed set of rules for the new
'Informant Mechanism' under Prohibition of Insider
Trading Regulations.
• The norms also propose a possible amnesty or settlement
for minor wrongdoings in return for cooperation in the
probe.
RBI allowed e-mandate for cards
• The RBI has permitted processing of emandate on credit
and debit cards for recurring transactions (merchant
payments).
• The maximum limit for such a transaction will be Rs 2,000.
• While processing the first transaction in emandate-based
recurring transaction series, additional factor
authentication (AFA) validation should be performed.
India to launch Bharatcraft for MSMEs
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• Union Government is planning to launch an ecommerce
portal named Bharatcraft for MSME’s.
• The portal is based on other e-commerce portals like
‘Alibaba’ and ‘Amazon’.
• The portal will provide a platform for MSMEs to market
and sell their products and in turn boost the sector.
• The Bharatcraft portal has a huge potential to generate
revenue worth ₹10 lakh crore in next 2- 3 years.
Centre announced series of measures
• The government has unveiled a series of measures to
achieve higher economic growth.
• It has withdrawn enhanced surcharge on Foreign
Portfolios Investors FPIs, restoring the pre-budget
position.
• Surcharge on domestic investors in equity markets has
also been withdrawn.
• The government has also decided to withdraw angel tax
provisions for startups and their investors.
'India Economic Summit' to be held in October
• Bangladesh Prime Minister Sheikh Hasina and tennis star
Sania Mirza will be among co-chairs for 'India Economic
Summit' to be held on October 2019 in Delhi.
• The two-day summit will be held by Genevabased World
Economic Forum (WEF) in collaboration with
Confederation of Indian Industry (CII).
• The theme of the summit is 'Innovating for India:
Strengthening South Asia, Impacting the World'.
Mahindra to acquire 58% stake in Ideal Finance
• Mahindra & Mahindra Financial Services (Mahindra
Finance) has entered into a joint venture deal with Sri
Lanka's Ideal Finance to acquire up to 58.2% stake in the
company.
• Mahindra Finance will invest LKR 2 billion until March 2021
for up to 58.2% stake in Ideal Finance.
• Ideal Finance Ltd (IFL) focuses on rural and semi-urban
sector IFL, and started its operations in 2012.
Government removes DRR requirement
• The Ministry of Corporate Affairs has amended the
Companies (Share Capital & Debentures) Rules by
removing Debenture Redemption Reserve requirement for
Listed Companies, NBFCs and HFCs.
• Debenture Redemption Reserve for unlisted companies
reduced to 10% of outstanding debentures from the
present level of 25%.
• The decision has been taken in pursuance of the Budget
announcements for 2019-20.
SEBI eases FPI norms
• The Securities and Exchange Board of India (SEBI) on 21
August 2019 eased the process for onboarding overseas
investors.

• SEBI also introduced an ‘informant mechanism’ to gather
better evidence and crackdown on insidertrading cases.
• FPIs would no longer be required to meet the ‘broad-
basing’ criteria, under which at least 20 investors were
required to establish a fund.
RBI accepts recommendation of Jalan Committee
• RBI implemented the recommendations of Bimal Jalan
Committee and decided to transfer Rs 1.76 lakh crore
dividend and surplus reserve fund to the government.
• Bimal Jalan committee was asked to decide how much
reserve money the central bank should have.
• Finance Secretary Rajiv Kumar was included in this
committee on behalf of the government. o The committee
had finalized its report on 14 August.
Ind-Ra cuts GDP growthforecast in FY20 to 6.7%
• India Ratings and Research has revised downwards its
projection of the country’s GDP growth in financial year
2019-20 to 6.7%.
• It is a six-year low, from its earlier forecast of 7.3%.
• The agency expects growth in the first quarter of the
current financial year to decline for the fifth consecutive
quarter to 5.7%
Appointments & Resignations
Appointments
• Colgate-Palmolive has announced the appointment of Ram
Raghavan as managing director effective August 01, 2019.
Prior to this role, Raghavan served as vice-president
Marketing of Asia Pacific Division of ColgatePalmolive.
• Dr. Guruprasad Mohapatra assumed charge of the office
of Secretary, Department for Promotion of Industry and
Internal Trade (DPIIT) in New Delhi.
Appointments
• In US, prominent Indian-American lawyer Kashyap Pramod
Patel, an ardent supporter of US President Donald Trump,
has been appointed to a key counterterrorism position in
the White House.
• Malabar Gold & Diamonds, one among the largest global
jewellery retailer with 250 showrooms has signed
Bollywood Icon Anil Kapoor to its starstudded list of brand
ambassadors.
Appointments
• Ravi Capoor, an IAS officer, assumed charge of the office of
Secretary, Ministry of Textiles in New Delhi. He has vast
experience of working in international agencies like the
World Bank.
• The government-appointed PM Prasad as the CMD of
BCCL, the country's largest coking coal producer. Prasad
has been appointed the CMD, BCCL, for a period of five
years.
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Appointments
• Abhay Thakur has been concurrently accredited as the
next Permanent Representative of India to the Economic
Community of West African States.
• R N Ravi, a former Intelligence Bureau officer and the
Centre's interlocutor for Naga peace talks, was sworn in as
the 20th governor of Nagaland on 1 August 2019.
YES Bank appointed Anurag Adlakha as CFO
• Yes Bank announced the appointment of Anurag Adlakha
as chief financial officer (CFO). • Raj Ahuja was serving as
the CFO of the company till now.
• He will continue to report to Chief Executive Officer
Ravneet Gill.
• Ahuja will now be in charge of strategy, planning and
functions of the bank.
• Adlakha was earlier senior group president and head of
financial management & strategy.
Appointments
• Paytm announced the promotion of its Chief Financial
Officer Madhur Deora as the company's President. Prior to
joining Paytm in October 2016, Deora served as Managing
Director in Citigroup's investment banking business.
• Raisin has recently signed Bollywood actor Bhumi
Pednekar as their brand ambassador. The Surat-based
brand is present in more than 160 stores across India.
Financial Schemes & MoUs
Odisha small savings incentive scheme launched
• The Odisha government launched a small savings scheme
for 2019.
• It will stop people from transacting with 'suspicious' non-
banking private financial institutions.
• Under this scheme, any eligible person who deposits a
minimum amount of Rs 2,000 in any small savings scheme
during 2019 in any post office or bank in the state, can
obtain a free web based coupon from the office of
collectors.
Krishi Ashirwad Yojana inaugurated
• 'Mukhya Mantri Krishi Ashirwad Yojana' was inaugurated
in Jharkhand on 10 August 2019.
• Under the scheme, farmers holding land of an acre or less
would be eligible for receiving Rs 5,000 and farmers with
five acres of land would be eligible to receive Rs 25,000 in
two fixed instalments.
• The scheme was incorporated in the state budget from the
financial year 2019-2020.
CAIT launches digital payments initiative
• Traders body Confederation of All India Traders (CAIT)
launched an initiative -- Digi Vyapari-Safal Vyapari -- to
 Monthly GK Banking Capsule 2019
August 2019

accelerate acceptance of digital payments among • GeM and SIDBI will take steps to ensure payments within a
merchants across the country. guaranteed timeframe to sellers
• CAIT has partnered with HDFC Bank, Mastercard, Common
Service Centres (CSCs) of Ministry of Electronics and
Information Technology (Meity) and Global Linkers for the
initiative
Gujarat to sign 2 MoUs in Vladivostok
• Diamond sector representatives accompanying Gujarat CM
Vijay Rupani to Vladivostok in Russia signed two MOUs.
• They are related to sourcing of rough diamonds and
setting up of diamond processing units there.
• Rupani was in Russia from August 11-13, 2019 along with a
delegation of 28 members from the state representing
sectors such as diamond, petroleum and pharmaceutical.
Goa inked trade MoU with Kamchatka
• Goa inked an agreement with Russia’s Kamchatka region
on 12 August 2019.
• It will pave the way for cooperation in the field of trade,
economic investment, scientific and technical cooperation
and even tourism.
• The MoU aims at deepening mutual beneficial cooperation
and will allow the exchange of information on the
investment climate, business conditions, etc.
Haryana, Russia signed MoU for trade
• A MoU was signed on 12 August 2019 between Haryana
and a Russian province for trade and investment in many
areas, including timber, healthcare, real state and
education, in Vladivostok.
• This would expand and strengthen economic cooperation
between the Sakha Republic of the Russian Federation and
Haryana.
• PM Narendra Modi would visit Russia to attend Eastern
Economic Forum in September 2019.
Scheme regarding partial credit guarantee
• The Government has issued a scheme regarding partial
credit guarantee.
• It would enable the public sector banks (PSBs) to purchase
pooled assets of financially sound NBFCs amounting to Rs.
one lakh crore.
• The objective is to address temporary asset liability
mismatches of otherwise solvent NBFCs/HFCs without
having to resort to distress sale of their assets for meeting
their commitments.
Government-e-Marketplace signed MoU with SIDBI
• Government eMarketplace signed an MoU with Small
Industries Development Bank of India.
• The MoU aims to benefit MSMEs, women entrepreneurs,
Self Help Groups, Women Self Help Groups and various
loan beneficiaries under MUDRA and Stand-up India
scheme.

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