DAY-NRLM signs MoUs with ten banks for individual financing of women entrepreneurs
On 18 October 2024, in India, the Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY-NRLM) signed MoUs with nine public sector banks and one private bank to finance individual women entrepreneurs.
Summary
On 18 October 2024, in India, the Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY-NRLM) under the Ministry of Rural Development signed MoUs with nine public sector banks and one private bank: Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab National Bank, UCO Bank and IDBI Bank. The banks have designed loan products for individual women entrepreneurs under DAY-NRLM, helping them access bigger loans to scale up their enterprises.
Key facts
- Date
- 18 Oct 2024
- Mission
- DAY-NRLM, Ministry of Rural Development
- Banks
- 10 (9 public sector + 1 private)
- Purpose
- Individual financing for women entrepreneurs (higher-order enterprises)
Practice MCQs 2 questions
On 18 October 2024, DAY-NRLM signed MoUs for individual financing of women entrepreneurs with:
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Correct answer: D — 9 public sector banks and 1 private bank
PIB, 18 Oct 2024: DAY-NRLM signed MoUs with nine Public Sector Banks and one Private Bank.
The loan products designed under the DAY-NRLM bank MoUs of 18 October 2024 are meant for:
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Correct answer: B — Individual women entrepreneurs under DAY-NRLM
PIB, 18 Oct 2024: banks have designed specific products for financing individual women entrepreneurs under the fold of DAY-NRLM.