8% interest on FDs for senior citizens, says PM Modi

NEW DELHI: Prime Minister Narendra Modi on Saturday announced that the government would give the rebate of three and four percent on interest rates to the people who seek loans to build their houses in 2017. Latest news on PM Modi's speech today:

• Prime Minister Narendra Modi announced a scheme to provide pregnant women financial aid of Rs 6,000 as part of efforts to bring down the maternal mortality rate.
• 8% interest up to Rs 7.5 lakh deposit by senior citizens ensured: PM
• "For senior citizens, we have decided that up to the amount of Rs 7.5 lakh in fixed deposits for 10 years, they would get the interest rate of eight per cent," Modi said
•  Govt to guarentee loan for small traders upto Rs 2 crore: PM Modi
• 3% interest waiver on loan upto Rs 2 lakh for construction of houses in rural India, under PM Awas Yojana: PM
• "To make the people of the middle class and the poor to buy or build their homes, the government has brought to schemes under the Pradhan Mantri Awas Yojana," Modi said in his address to the nation on New Year's Eve.
• He said a concession of four per cent will be given to those take a loan of up to Rs 9 lakh and three percent on Rs 12 lakh.
• The Prime Minister also said that the government would also build 33 per cent more houses in the villages under the Pradhan Mantri Grameen Awas Yojana.
• Modi also said that those who want to modify their building or houses, would get three per cent concession on loan of upto Rs 2 lakh.
• "In the country only 24 lakh people accept that their income is more than Rs 10 lakh. Can any one accept it," Modi said in his address to the nation on New Year's eve.
• "We all see big buildings and cars around us. In the big cities, one can find many people with more than Rs 10 Lakh income," he said.
• The Prime Minister said this fight for honesty needed to be strengthened: "It is natural to discuss what will happen with the corrupt. Law will take its own course."
• 3 crore Kisan credit cards will be transformed to RuPay credit cards for farmers, says PM
• Home loans for poor & middle class people upto Rs 9 lakh will get 4 % exemption on interest and upto Rs 12 lakh will get 3 % exemption: PM
• "The government has decided to waive 60-days interest waiver for loans taken by farmers who have taken loans from district co-operative banks and co-operative socities for the Rabi sowing season," the Prime Minister said in his address to the nation.
• "The cost of the 60-day interest waiver will be directly transferred to the farmers account."
• As large amount of money have been deposited, I urge banks to take initiatives, launch schemes keeping in mind poor & middle class people: PM
• 60 days interest waiver for farm loans taken from co-op banks: Modi
• All roads for the dishonest have been closed: Modi
• There have been reports of a few indulging in corruption, these people won't be spared: PM Modi.
• Bank employees, authorities along with people have done exemplary work: PM
• According to data, only 24 lakh people in the country have declared that their salary is above Rs 10 lakh under Income Tax: PM
• Foundation of a bright future has been laid through their sweat & toil: PM
• The problems which the people have faced for the betterment of the country is an example in itself: PM Modi
• Modi quotes Iqbal, says 'Kuch baat hai ki hasti mit ti nahi humari'
• After Diwali, our country took an important decision to curb black money which will have long term benefits: PM Modi
• PM Modi begins his address to the nation
• PM Modi to begin his address to the nation at 7:30 pm
• This will be his second address to the nation since his announcement in a similar address on November 8 to scrap Rs 1000 and Rs 500 notes.

While announcing the landmark decision, he had asked the people to give 50 days for rolling it out. Against this backdrop, the Prime Minister may speak about the roadmap ahead, especially on the steps to ease the cash flow that has been a major problem ever since demonetisation took place. He may also speak on the steps to deal with the problems the economy faces after the demonetisation.