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This Article is From Dec 31, 2016

Only 24 Lakh People Accept They Earn More Than Rs 10 Lakh Per Year: PM Modi

The 50-day period sought by the Prime Minister to ease the cash crunch situation across the country ended on Friday, December 30.

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Only 24 Lakh People Accept They Earn More Than Rs 10 Lakh Per Year: PM Modi
Prime Minister Narendra Modi addressed the media on Saturday.
Prime Minister Narendra Modi is addressing the nation a day after the 50-day deadline to deposit old Rs 500 and Rs 1,000 notes ended. 

Here are the highlights: 
  • Indians have shown patience, sacrifice to fight black money
  • Government focusing on normalising banking operations, especially in rural areas
  • Only 24 lakh people in India accept that they earn more than Rs 10 lakh per year
  • In next three months, 3 crore Kisan credit cards will be made Rupay cards
  • Small traders to get loans up to Rs 2 crore under credit guarantee from central government
  • Banks have been asked to raise cash credit limit to 25 per cent from 20 per cent for small traders
  • People living in rural areas will get 3 per cent rebate on interest rate on loans up to Rs 2 lakh for building or renovating home
  • Small traders to get loans up to Rs 2 crore under credit guarantee from central government

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