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Wilful default of loans hits honest taxpayers, says Kovind
Context
President calls for more women to join India’s work force
What has happened?
President Ram Nath Kovind on Thursday said wilful and criminal default on bank loans had hurt innocent citizens and honest taxpayers had to bear the brunt of such frauds.
Background
Inaugurating the 34th annual general meeting of FICCI Ladies Organisation (FLO), one of the top industry bodies
Very low NPAs amongst MUDRA entrepreneurs
- MUDRA entrepreneurs are striving to pay back their loans. These are hard-working Indians, many of them women
- They are borrowing small sums as capital to set up little businesses
- Only 8% of the 117 million MUDRA loans have turned non-performing assets (NPAs).
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