Post-note ban, PM’s 5-scheme New Year gift

He also assuaged the honest people that the government will act as a friend to them so that their difficulties are eased. 

Among the sops announced in his address to the nation at the end of 50-day demonetisation period, Modi said senior citizens will get 8 per cent interest on deposits of up to Rs 7.5 lakh for 10 years and deposit of Rs 6,000 into accounts of pregnant and lactating women in rural areas to meet medical expenses. 

For farmers, he announced that banks will not charge interest for 60 days on loans taken from district cooperative central bank and primary societies for rabi crop. 

For construction or expansion of a rural house, 3 per cent interest will be waived on loan of up to Rs 2 lakh. 

Announcing two new schemes under Pradhan Mantri Awas Yojana, he said 4 per cent interest subvention on loans up to Rs 9 lakh and 3 per cent on loan up to Rs 12 lakh. 

“The law will take its course with full force. The government will help the honest and protect them and see their difficulties are eased. This government is a friend of good people and wants to build on the good environment for the people to return to goodness,” he said. 

Acknowledging that ‘serious offences’ have been committed by some bank and government officials taking advantage of situation, he said, “They will not be spared.” 

4% interest subvention on loan of upto Rs 9 lakh and of 3% on loan upto Rs 12 lakh, for rural areas it will be 3 % for Rs 2 lakh 

Government to pay interest for 60 days on loans taken by farmers for rabi season 

Credit guarantee of Rs 2 cr to be given by the Centre for MSMEs Banks told to raise cash credit limit to MSMEs to 25% from 20% 

Rs 6,000 to be credited in the accounts of pregnant women 

8% interest rate will be guaranteed on deposits of up to Rs 7.5 lakh for 10 years for senior citizens; interest will be paid monthly