The scheme, in 10 years of its launch on April 8, 2015, has reshaped India’s entrepreneurial landscape, drawing global recognition as a model for financial inclusion.
Masses are inclined towards purchase of consumer durables through loans, with the home appliances loans rising from just 1% in 2020 to 37% in 2024, a recent survey said.
The study by Paisabazaar analysed the credit data of 3.7 crore consumers across India.
In reply to Governor Banwarilal Purohit, Bhagwant Mann said the AAP government raised a loan of Rs 47,107 crore between April 2022 and August 2023.
Bank trade unions and other critics say, with evidence that is difficult to deny, that the bad bank is going to be one more route to help corporate and other big loan evaders. The course involves a corporate entity borrowing money from the bank, then becoming insolvent after some time and defaulting on the loan, leading the bank to sell the assets dirt cheap to another corporation
The state government has already waived off loans of 5.63 lakh such farmers to the tune of Rs 4610 Crore.
According to data from the state finance department, in the last six months after the announcement of the scheme in June this year, more than one lakh students have applied of which 1,748 of them have received their loans
It added that it will seek parliament's permission for grants to enable the move.
The top court has granted one-week time to Solicitor General Tushar Mehta to file an affidavit clarifying Centre's stand and posted the matter for further hearing on September 1.
Member of the Board of Directors and Additional Chief Secretary Social Justice and Empowerment Nisha Singh and other senior officials were present in the meeting.
