VK Singh :"MUDRA a tool to stop Farmer Suicides"

Mumbai OCT 12: Minister of State for External Affairs V K Singh said on Wednesday has made some crucial comments on the people who go Abroad.He said that "people who go abroad do well due to low-interest rates on loans which help them to take forward their ideas and opportunities".

He made the above statements while addressing a gathering of bankers as part of a promotion campaign of MUDRA (Micro Units Development and Refinance Agency).

Speaking on the MUDRA scheme he has said that"the scheme was a tool for young entrepreneurs to be empowered to do what they want.There is no collateral required to avail the loans and the paperwork is also very minimal. According to figures, women have been the main beneficiaries of this scheme," he said.

Minister has also asked the bankers to provide loans for families of farmers, so that they do some other work to balance the bad finances and which helps in preventing farmer suicides.