Which of the following statements accurately describe the Credit Assistance Program for Jan Aushadhi Kendras?

1. Dr. Mansukh Mandaviya is responsible for launching the program.

2. A partnership between SIDBI and PMBI is integral to this initiative.

3. Entrepreneurs can receive up to Rs. 4 lakhs in credit assistance for infrastructure.

Solution

• Dr. Mansukh Mandaviya, Union Minister for Chemicals & Fertilizers and Health & Family Welfare inaugurated a credit assistance program for Jan Aushadhi Kendras. • In order to facilitate invoice-based financing to the entrepreneurs running the Jan Aushadhi Kendras and to also give them support for infrastructural establishment of retail medical outlets, Small dustries Development Bank of India (SIDBI) and Pharmaceuticals & Medical Devices Bureau of India (PMBI) have come together by signing 02 Memorandum of Understandings (MoUs). 1. After a successful completion of a pilot credit programme to provide working capital assistance to Jan Aushadhi Kendras it has been decided to go ahead to provide credit facility of working capital to around 11,000 existing and proposed 15,000 Jan Aushadhi Kendras.  • SIDBI will offer the project loan for a credit limit up to Rs. 2 lakhs at a very competitive and affordable interest rate, which will work as a working capital and with easy recovery process.  • The entire ecosystem will be working on a digital mode while ensuring ease of doing business. 2. The 2nd Memorandum of Understanding for project loan envisages funding of 80% of the project cost i.e. up to Rs. 4 lakhs again on a very lucrative interest rate and easy repayment conditions, which will facilitate expenses on Furniture & Fixtures, Computer, AC, Refrigerator etc. as a handholding support in initial phase of set up of Jan Aushadhi Kendra. Learn Along: About SIDBI Set up: 2nd April 1990                                 CMD: Sivasubramanian Ramann                     Headquarters: Lucknow