FM hands over loan sanction letters worth Rs 5.13 crore to beneficiaries in Leh
Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Sunday handed over loan sanction letters worth Rs 5.13 crore to beneficiaries in Ladakh's Leh, under various Central government financial inclusion schemes.
The move is part of the Centre's continued efforts to empower local communities through targeted economic support and strengthen entrepreneurship in remote regions like Ladakh.
The Finance Minister distributed the sanction letters during the Credit Outreach Programme organised in Leh, where beneficiaries of schemes such as the Pradhan Mantri Mudra Yojana (PMMY), the PM Vishwakarma Yojana, the Prime Minister's Employment Generation Programme (PMEGP), the PM Formalisation of Micro Food Processing Enterprises (PM-FME) Scheme, and Joint Liability Group (JLG) loans received official support from participating banks.
FM Sitharaman, who is on a four-day visit to Ladakh, also interacted with beneficiaries and bank officials during the programme.
Her visit comes at a time when the government is increasing its focus on financial inclusion in aspirational and border regions.
Through these initiatives, the government aims to promote local entrepreneurship, generate employment, and ensure equitable access to formal credit systems.
Earlier in the day, the Finance Minister visited an exhibition in Leh featuring local handicrafts, handloom products, and sustainable innovations developed by women-led self-help groups (SHGs) and small entrepreneurs.
She praised their creativity and the role they play in preserving Ladakh's cultural heritage, while also contributing to rural economic development.
The Centre's flagship schemes, like the PM Mudra Yojana and DAY-NRLM, have played a key role in driving financial inclusion across India.
Under the PMMY alone, over 52 crore loans worth Rs 32.61 lakh crore have been sanctioned since its launch, with nearly 70 per cent of the beneficiaries being women entrepreneurs.
The scheme's emphasis on collateral-free credit has enabled small business owners, particularly in rural and semi-urban areas, to become financially independent.
The Finance Minister was also scheduled to meet with officials from the Ladakh Autonomous Hill Development Council (LAHDC) and the Union Territory administration, and inaugurate various developmental projects during her visit.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
39 minutes ago
- Time of India
MGNREGA empowering poor farmers & labourers in MP: CM
Bhopal: Chief minister Mohan Yadav said on Sunday that the Mahatma Gandhi National Rural Employment Guarantee Act ( MGNREGA ) has emerged as a strong foundation for the prosperity of the poor, farmers, and labourers of Madhya Pradesh. Yadav said that this scheme not only provides local employment to the poor, labourers, and farmers but also helps in enhancing irrigation facilities. "Under MGNREGA, works such as the construction of farm ponds, Amrit Sarovars, wells, check dams, land levelling, bunding, horticulture, renovation of water bodies, and rainwater harvesting structures are being carried out. So far, 32 lakh people in the state received employment through MGNREGA as part of the Jal Ganga Sanvardhan Abhiyan. During FY 2025–26, approximately Rs 1500 crore was paid in wages to workers," he said. The central and state govts are implementing MGNREGA, which guarantees 100 days of employment locally to ensure that people in rural areas receive employment at the local level. Since April this year, 32 lakh individuals from 22 lakh families benefited from the scheme in the state.
India.com
41 minutes ago
- India.com
India's miser king…had Rs 20355767000000 net worth, owned many diamonds, huge amount of gold, but smoked used cigarette, eat in tin plate, name was…
New Delhi: There are thousands of stories about the legacy of India's royal families. Wealth worth crores, diamonds, jewels, real estate, kings and maharajas had no dearth of wealth. Palaces spread over thousands of acres were filled with queens and princesses. The king whose story we are telling today, had so much wealth that diamonds were weighed in kilos and gold and silver in tons. In those days, he had more than 50 Rolls Royce cars. So much money that he was among the richest people not only in India but in the world. This is the story of the Nizam of Hyderabad State. India's first billionaire The title of India's first billionaire is with the seventh Nizam of Hyderabad, Mir Osman Ali Khan. He had so much wealth that it is difficult to estimate it. He had a treasure of gems like diamonds, gold, silver, sapphire and topaz. There was so much gold that trucks loaded with gold bricks used to be parked in the garden. He had assets worth 236 billion dollars i.e. about Rs 2,03,55,76,70,00,000. Diamond paperweight Mir Osman Ali Khan had a 185 carat Jacob diamond, which he used as a paperweight. The price of this paperweight was Rs 1350 crore. He had 20 lakh pounds in cash in his palace. He had dozens of palaces to live in, but he spent most of his time in Falaknuma Palace built in the middle of Hyderabad. It is said that he had so many diamonds that an Olympic size swimming pool could be filled with them. Owner of Falaknuma Palace This palace was built by Hyderabad's Prime Minister Nawab Sir Vikar-ul-Umar in 1893, but the credit for making it luxurious goes to the last Nizam of Hyderabad, Asaf Jah VII. In that era, the cost of building this palace was Rs 40 lakh. The palace is built on an area of 32 acres. 220 rooms, world's largest dining table Falaknuma Palace has a total of 220 rooms. Seeing the beauty of the palace, Times Magazine had featured it on its cover page. Falaknuma Palace has the world's largest dining table, which is made of seven different pieces. 101 people can sit and eat together on this 80 feet long table. How much wealth According to a report in the British newspaper 'The Independent', the Nizam of Hyderabad had a total wealth of 236 billion dollars between 1886-1967. The Nizam of Hyderabad donated five tons (5000 kg) of gold to the Indian government during the 1965 war with China. A great miser Hyderabad's Nizam Mir Osman Ali was the richest person in India but he was equally miserly. Nizam's miserliness was such that he would not even leave people's used cigarettes. According to historians Dominic Lapierre and Larry Collins' book 'Freedom at Midnight', Mir Osman Ali was infamous for his miserliness. Whenever a guest came to his palace and left his unsatisfied cigarette, Nizam would pick up his used and unsatisfied cigarette and start smoking it. Utensils of gold and silver, but tin plates for himself Nizam did not spend on himself. Nizam wore the same cap for 35 years in his life and he never got his clothes ironed. Nizam's miserliness was such that despite having gold and silver utensils, he himself used to eat in tin utensils. Dominique Lapierre and Larry Collins wrote about Nizam's miserliness in their book that he had so many gold utensils that 200 people could eat together in them, but he himself used to eat in old tin utensils. Usurping people's cars Nizam had no dearth of luxury cars, 50 Rolls Royce was parked in his garage, but whenever he saw luxury cars in his capital, he would forcibly ask for that car as a gift from the owner. Despite having thousands of cars, he used to travel in a rickety car.
Time of India
an hour ago
- Time of India
HYDRAA plans to engage former military personnel as marshals to tackle monsoon emergencies in Hyderabad
Hyderabad: To tackle monsoon-related challenges across the city, the Hyderabad Disaster Response Asset Protection Agency (HYDRAA) has decided to engage former military personnel to manage waterlogging issues and handle incidents of fallen trees across the city. Following the state govt's decision to transfer emergency monsoon operations to HYDRAA, the agency opted to employ ex-servicemen as 'marshals' for a five-month duration. During this period, 90 ex-army personnel will be stationed across the city and will head the 150 monsoon emergency teams. These marshals will additionally be tasked with safeguarding the city's lakes from encroachments. Further, 51 DRF teams from HYDRAA will support these emergency teams. All the units handle all monsoon-related tasks, including the clearing of catchpits during rainfall, dewatering, management of traffic diversions, and safety inspections of nalas to prevent accidents. Currently, the GHMC will be responsible for only pre-monsoon tasks such as desilting of nalas and stormwater drains. According to officials, the marshals will supervise the contractors' activities and confirm if their teams addressed the water stagnation issues and cleared fallen trees prior to bill payment. 'Ex-servicemen, having served in the army, are known for their uncompromising approach towards work quality and safeguarding public assets, including protection against lake encroachments. This sets them apart from other authorities, making them ideal candidates for deployment as marshals,' said AV Ranganath, Commissioner, HYDRAA. The govt cancelled previously approved contracts by the Greater Hyderabad Municipal Corporation (GHMC), valued at Rs 50 crore. 'We will reduce monsoon-related spending by 40 percent, bringing it down from Rs 50 crore to Rs 30 crore across all operations. Rest assured, relief activities and emergency operations will remain unaffected. Previously, GHMC would hire dewatering pumps, but the two-month rental costs could instead fund the purchase of multiple pumps. Through such measures, we are implementing various cost-cutting strategies,' Ranganath added. HYDRAA invites tenders for monsoon works HYDRAA has taken charge of monsoon emergency operations, including urban flooding and disaster management, following the state govt's transfer order. The agency issued monsoon tenders with plans to deploy contractors in the next five days. These teams will be positioned across all 150 GHMC wards. Each team will comprise nine members tasked with addressing road stagnation, water logging, and fallen trees during heavy rainfall. The scope of HYDRAA's responsibilities includes clearing fallen trees and poles while coordinating with HMWSSB, TGSPDCL, and other agencies for monsoon-related response and relief activities.
