Latest news with #EmploymentGenerationProgramme
United News of India
14-07-2025
- United News of India
J&K ACB traps and arrests Postal Assistant at Bandipora
Srinagar, July 14 (UNI) Jammu and Kashmir Anti-Corruption Bureau today trapped and arrested a postal assistant in Bandipora district while demanding and allegedly accepting a bribe of Rs 6500. ACB said they received a complaint from a resident of Bandipora against Mudasir Ahmad, postal assistant posted at sub post office Bandipora for demanding bribe. The complainant alleged that he had taken a loan under the Prime Minister's Employment Generation Programme (PMEGP) scheme through Khadi and Village Industries Commission (KVIC) for a mobile and electronic equipment business. While the bank had released the loan amount, the subsidy was pending and required a physical inspection by the Bandipora post office. During this process, the official in charge, Mudasir Ahmad, allegedly demanded a bribe of Rs 6,500 to clear the subsidy. On receipt of the complaint, a secret verification was conducted by ACB which prima facie discloses commission of offence punishable under Section 7 of the Prevention of Corruption Act, 1988 on the part of the accused Mudasir Accordingly, a case under Section 7 of the Prevention of Corruption Act, 1988 was registered at Police Station ACB Baramulla against accused Mudasir and the investigation was initiated . 'A trap was laid and the accused was caught red handed while demanding & accepting bribe from the complainant, he was immediately taken into custody after following due process of law. Further investigations are going on,' ACB said UNI MJR GNK
India.com
13-07-2025
- Business
- India.com
Gold & Silver Now Valid Collateral For Loans: RBI Issues New Circular To Banks
New Delhi: In a significant move, the Reserve Bank of India (RBI) has now allowed all banks to accept gold and silver as collateral for agriculture and MSME loans even if the loan is otherwise eligible to be collateral-free. As per the latest RBI circular, if a borrower willingly offers gold or silver, banks are required to accept it. This change is expected to boost access to credit, especially in rural and small business sectors. The RBI clarified that this move doesn't go against the rules for offering collateral-free loans to farmers and small businesses. Instead, it's meant to give borrowers more flexibility by allowing them to use assets like gold and silver to access credit when needed. New RBI Rules: What Borrowers Should Know - Gold & Silver Now Welcome as Optional Collateral Borrowers can offer gold or silver as security for loans up to Rs 10 lakh, even if the loan qualifies as collateral-free. - Collateral Must Be Borrower's Choice, Not Bank's Demand Banks are not allowed to insist on collateral—it must be offered voluntarily by the borrower. - Collateral-Free Loan Norms Remain Unchanged The RBI confirmed that the core guidelines for agriculture and MSME collateral-free loans are still in place. - No Collateral Required Under PMEGP Loans up to Rs 10 lakh under the Prime Minister's Employment Generation Programme will continue without any collateral requirement. - Trusted MSEs May Get More, Without Collateral Micro and Small Enterprises with a strong credit record may be eligible for up to Rs 25 lakh in collateral-free loans. - Agri Loans Up to Rs 2 Lakh Still Collateral-Free Loans for farming and allied sectors like dairy or poultry remain exempt from collateral up to Rs 2 lakh. New Rules Apply to These Banks The updated guidelines apply to all major banking institutions, including: - Scheduled Commercial Banks - Regional Rural Banks (RRBs) - Small Finance Banks - State Cooperative Banks - District Central Cooperative Banks This RBI move is seen as a win for borrowers. It supports financial inclusion and ensures that banks can't pressure borrowers to provide collateral when it's not required.
The Hindu
11-07-2025
- Business
- The Hindu
Coir testing lab to come up in Pollachi: Union Minister
The Central government will set up a dedicated coir testing laboratory in Pollachi, Union Minister of State for Micro, Small and Medium Enterprises (MSME) and Labour and Employment Shobha Karandlaje announced here on Saturday. Speaking at a seminar-cum-industry meet organised by the Coir Board, she said the lab will be established on five acres of land in Thippampatti village. It will focus on testing and certifying coir products for export, improving market access, and helping producers meet international benchmarks. The Minister noted that MSMEs across the country still lack adequate access to skilled labour and modern technology—both essential for the sector's growth. She urged stakeholders to engage the younger generation through Industrial Training Institutes (ITIs) and institutions like the Indian Institute of Science (IISc), and to prioritise skilling and upskilling. She called for greater investment in research and development to diversify coir products, including value-added innovations such as coir plywood and activated carbon. The Minister assured the stakeholders that the government would bring in advanced technologies from across the world, responding to a key demand raised by industry associations during the meet. Stakeholders flag challenges Stakeholders from across the coir value chain flagged several challenges, including constraints in boosting exports, limited access to working capital and technology, the need for quality upgrades, and global pricing pressures. In response to industry appeals for policy support to blend coir fibre with banana waste, jute, bamboo, and other natural materials, Ms. Karandlaje said the Coir Industry Act, 1953, would be amended to allow such blending. She added that financial support under the Prime Minister's Employment Generation Programme (PMEGP), including a 30% subsidy, would continue. She encouraged entrepreneurs to register on the Udyog Aadhaar Memorandum (UDYAM) and Government e-Marketplace (GeM) portals to access Central procurement benefits. Highlighting the underutilisation of coconut husk, she said only 50% is used in Tamil Nadu, 10% in Karnataka, and 12–15% in Kerala, while a significant share is still being burnt. She called for a joint effort by the Indian Council of Agricultural Research (ICAR), the Coir Board, and the Coconut Development Board to generate value for coconut farmers. Later, speaking to reporters, the Minister criticised the Tamil Nadu government over electricity tariff hikes, saying they were adversely affecting the MSME sector — the second-largest employer in the country after agriculture. She also cited concerns over corruption, land and drug mafias, and governance issues in the State. Ms. Karandlaje demanded that the State release a white paper on what she called 'its financial crisis' and questioned the lack of accountability in public spending. Later in the evening, the Minister visited Agri Intex 2025 in Coimbatore and interacted with MSME and agri-entrepreneurs. She urged to focus on ready-to-cook and ready-to-eat food products to boost exports. Ends
New Indian Express
11-07-2025
- Business
- New Indian Express
Khadi thriving, restoring lives under PM Modi: Minister Karandlaje
BENGALURU: Union Minister of State for MSME and Labour and Employment Shobha Karandlaje highlighted that under the leadership of PM Narendra Modi, India's Khadi and Village Industries (KVI) sector has recorded unprecedented growth, achieving production worth Rs 1.16 lakh crore and retail sales of Rs 1.7 lakh crore, while generating employment for over 1.94 crore people in the country. During her visit to the Khadi and Village Industries Commission (KVIC) campus on Thursday, she said the sector has witnessed a transformative journey in the last decade. Since 2014, KVI sales have grown by 447%, production by 347%, and employment by 49% — a growth she described as a testament to 'Modi Ki Guarantee'. Speaking at the Multi-Disciplinary Training Centre, she praised Karnataka's contribution to the khadi movement. 'In 2024–25 alone, the state recorded Rs 535.21 crore in khadi production and Rs 667.95 crore in retail sales, creating livelihoods for over 21,745 rural artisans,' she said. She also highlighted the impact of the Prime Minister's Employment Generation Programme (PMEGP), under which Rs 132.41 crore in Margin Money has been distributed to 4,379 beneficiaries, resulting in the creation of 43,557 jobs in Karnataka. Shobha said khadi today is more than just cloth and it is a symbol of self-reliance and national pride. She said the PM's vision extends beyond economic development. 'It is about restoring dignity and prosperity to India's artisans, especially women, SC/ST communities, and those in tribal and backward areas. Through schemes like PMEGP, MMDA, KRDP, and Work-Shed Scheme, khadi is not just thriving — it's transforming lives,' she said. 'Rising domestic demand for coco peat' She also called for enhanced innovation, collaboration, and commercialisation in India's coir industry during her visit to the Central Institute of Coir Technology (CICT). Stressing the need to modernise and scale the traditional sector, she said only 30% of coconut husk generated in India is utilised, leaving room for growth. She pointed out to the rising domestic demand for coco peatand called for immediate steps to develop new applications and expand into high-potential markets. She encouraged CICT to explore eco-conscious products.
Hans India
09-07-2025
- Business
- Hans India
Expedite approvals for new industries
Chittoor: District Collector Sumit Kumar underlined the need to expedite approvals for setting up industries through the single-window system to boost local employment opportunities. He was speaking at the District Industries and Export Promotion Committee (DIEPC) meeting held on Tuesday under the aegis of the District Industries Centre (DIC). During the meeting, the Collector said that the establishment of industries in the district would directly benefit the local youth by providing employment. He directed officials to speed up the process of granting permissions and to organise skill development training programmes to equip youth for job opportunities. He informed that for the financial year 2025-26, production has already commenced in 547 micro and small-scale industries with an investment of Rs 8.39 crore, generating employment for 1,604 people. Furthermore, initiatives have been taken to approve 13 large and medium industries with an investment of Rs 3,494 crore, and 38 micro and small enterprises with Rs 117 crore under the single-window system. If these proposed units begin operations, an estimated 15,000 jobs could be created. From April 2025 to date, 532 applications were received under the Single Desk system, of which 520 have already been approved. Applications under the Prime Minister's Employment Generation Programme (PMEGP) for 2025-26 are currently being accepted, and the Collector instructed bankers to promptly review and sanction these applications. Under the PM Vishwakarma Yojana, permissions have been granted for 2,131 units, and training sessions have been held, benefiting 1,843 individuals so far. The meeting was attended by Industries GM C Suribabu, Deputy Commissioner of Commercial Taxes Srinivasa Rao, APIIC Zonal Manager YVK Subba Rao, FAPPSI representative K Madhusudan, and Food Processing Association representative K Govardhan Babu, among others.
