PIB NOTES 8th APRIL 2025

 

 

City Key of Honour

​On April 7, 2025, India's President, Smt Droupadi Murmu, received the 'City Key of Honour' from the Mayor of Lisbon, Portugal, at a ceremony in Lisbon's City Hall.  

 Pradhan Mantri MUDRA Yojana (PMMY)

On April 8, 2025, Prime Minister Narendra Modi celebrated the 10th anniversary of Pradhan Mantri MUDRA Yojana (PMMY) by congratulating its beneficiaries.

The Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Government of India on April 8, 2015, to provide financial support to small businesses and entrepreneurs. The term "MUDRA" stands for Micro Units Development and Refinance Agency. This initiative aims to offer loans up to ₹10 lakh to non-corporate, non-farm small and micro enterprises engaged in income-generating activities.

Objectives of PMMY:

1. Funding the Unfunded: Many small business owners, like artisans, shopkeepers, and service providers, often lack access to formal banking services. PMMY aims to bridge this gap by providing them with necessary financial assistance.
2. Promoting Entrepreneurship: By offering financial support, the scheme encourages individuals to start or expand their businesses, leading to self-employment and job creation.

Loan Categories under PMMY:

The scheme offers three types of loans, catering to different stages of business development:

1. Shishu (Infant): Loans up to ₹50,000 for entrepreneurs who are just starting their businesses.
2. Kishore (Adolescent): Loans ranging from ₹50,001 to ₹5 lakh for business owners looking to expand their existing operations.
3. Tarun (Young Adult): Loans between ₹5,00,001 and ₹10 lakh for well-established businesses aiming for further growth.

New Category introduced

• Tarun Plus: Loans above ₹10 lakh and up to ₹20 lakh, specifically for entrepreneurs who have successfully repaid previous loans under the Tarun category. 

Example:

Imagine Priya, a tailor who runs a small shop in her village. She wants to buy new sewing machines to increase her production but lacks the funds. Through PMMY, Priya can apply for a Shishu loan to purchase the equipment. As her business grows and she plans to open another shop, she can seek a Kishore loan for expansion.

Key Features of PMMY:

• No Collateral Required: Borrowers are not required to provide any security or collateral to avail of these loans.
• No Processing Charges: Banks do not levy any processing fees for these loans, making them more accessible to small entrepreneurs.
• Flexible Repayment Terms: The repayment period varies based on the loan amount and the borrower's ability to repay, ensuring ease of repayment.

Who Can Apply?

Individuals engaged in income-generating activities in sectors like manufacturing, trading, and services can apply. This includes:

• Shopkeepers
• Artisans
• Food processors
• Repair shops
• Small-scale industries

To apply, entrepreneurs can approach banks, microfinance institutions, or non-banking financial companies that are part of the PMMY network.

Impact of PMMY:

Since its inception, PMMY has significantly contributed to the growth of micro and small enterprises in India. By March 2024, over 487.8 million loans worth ₹29.79 trillion had been sanctioned, empowering countless entrepreneurs and boosting the economy.

In summary, the Pradhan Mantri MUDRA Yojana serves as a vital support system for small business owners, providing them with the financial resources needed to start and expand their ventures, thereby fostering economic development and employment generation in the country.

Niveshak Didi

The Investor Education and Protection Fund Authority (IEPFA), part of the Ministry of Corporate Affairs, and India Post Payments Bank (IPPB), under the Department of Posts, have partnered to launch the second phase of the “Niveshak Didi” initiative. This program aims to improve financial literacy among women in rural, semi-urban, and underserved areas by training local women to become financial educators.

Understanding the Initiative:

• What is "Niveshak Didi"?
• "Niveshak Didi" translates to "Investment Sister." In this initiative, women postal workers and community leaders are trained to educate other women in their communities about managing money, saving, investing wisely, and avoiding financial fraud.

Achievements of Phase 1:

• In the first phase, over 55,000 people attended financial literacy camps organized by IPPB across India. Approximately 60% of these participants were women, mainly young and economically active. Notably, two-thirds of the attendees were from deep rural areas, ensuring that financial education reached the grassroots level.

Plans for Phase 2:

• Building on the success of Phase 1, the second phase plans to:
• Conduct over 4,000 financial literacy camps nationwide.
• Train nearly 40,000 women postal workers as "Niveshak Didis" to lead these sessions.
• Cover topics such as responsible investing, fraud awareness, savings habits, and using digital banking tools.

About the Organizations:

Investor Education and Protection Fund Authority (IEPFA):

A statutory body under the Ministry of Corporate Affairs, IEPFA aims to ensure that investors across the country are informed and protected. It promotes financial literacy, helping individuals understand personal finance management, from budgeting and saving to making informed investment decisions.

India Post Payments Bank (IPPB):

Established under the Department of Posts, Ministry of Communication, IPPB was launched on September 1, 2018, with the vision to build the most accessible, affordable, and trusted bank for the common man in India. It leverages the extensive postal network to reach unbanked and underbanked populations, delivering simple and affordable banking solutions through intuitive interfaces available in multiple languages.

In summary, the "Niveshak Didi" initiative is a significant step toward empowering rural women in India with essential financial knowledge, enabling them to make informed decisions and contribute to the economic well-being of their families and communities.

Electronics Components Manufacturing Scheme

The Ministry of Electronics and Information Technology (MeitY) has introduced the Electronics Components Manufacturing Scheme to boost India's role as a global center for electronics production.  

Growth in Electronics Exports:

• In the last financial year, smartphone exports exceeded ₹2 lakh crore, with iPhone exports alone contributing approximately ₹1.5 lakh crore.
• Over the past decade, electronics production has increased five times, and exports have grown more than six times.

Phases of Electronics Manufacturing in India:

1. Finished Goods: Initially, India focused on assembling complete electronic products.
2. Sub-Assemblies: Next, the country began producing parts of electronic products.
3. Component Manufacturing: Currently, India is advancing into manufacturing individual electronic components, adding more value and promoting self-reliance.

Scheme Highlights:

• Broad Application: The scheme benefits various sectors, including consumer electronics, medical devices, automobiles, power electronics, and electrical grids.
• Focus on Passive Components: It emphasizes producing passive electronic components like resistors, capacitors, and connectors. Active components are addressed separately under the India Semiconductor Mission (ISM).
• Support for Equipment Manufacturing: The scheme also supports designing and manufacturing equipment used in electronics production, encouraging investments from companies like Applied Materials and Lam Research.

Incentive Structures:

1. Turnover-Linked Incentive: Rewards based on the company's sales.
2. Capex-Linked Incentive: Support tied to the company's capital expenditures.
3. Hybrid Incentive Model: A combination of both turnover and capital expenditure incentives.

A key requirement for all applicants is job creation, ensuring that the scheme contributes to employment growth in India.

This initiative reflects the government's commitment to fostering a robust electronics manufacturing ecosystem, promoting self-reliance, and generating employment opportunities in the country.

iCAST-25

The Ministry of Electronics and Information Technology (MeitY) and the Government of Himachal Pradesh jointly organized a two-day workshop named iCAST-25 (Integrated Cyber Advanced Security Techniques-2025). This event took place on April 3-4, 2025, at the Police Headquarters in Shimla, aiming to improve cyber security among state police leaders.

Purpose of the Workshop:

The workshop's main goal was to strengthen the ability of government officers to handle and reduce cyber threats effectively. As digital technologies become more common, the risk of cyber attacks increases, making it essential for officials to be well-prepared.

Role of NeGD:

The National e-Governance Division (NeGD), under MeitY, has been conducting capacity-building workshops nationwide. These workshops aim to empower state leaders, Chief Information Security Officers (CISOs), and officials with practical training and best practices for managing cyber threats. This initiative supports the Government of India's mission to create a cyber-resilient public sector, ensuring robust digital infrastructure and secure e-governance services across states.

In summary, the iCAST-25 workshop represents a proactive step by the Himachal Pradesh government, in collaboration with MeitY, to enhance the cyber security capabilities of its officials, thereby safeguarding the state's digital assets and ensuring the safe delivery of e-governance services.

Developing Ecosystem for Assistive Technology in India

NITI Aayog, in partnership with the Government of Maharashtra, organized a one-day workshop titled "Developing Ecosystem for Assistive Technology in India" on April 9, 2025, at YASHADA, Pune. The workshop aimed to enhance the environment for assistive technology (AT) in the country. Assistive technology includes devices and products designed to help individuals with disabilities, older adults, and those with chronic health conditions perform daily activities more easily. Examples of AT are wheelchairs, hearing aids, and screen readers for the visually impaired.