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PM Modi’s visit to Mongolia

Published By : Admin | May 17, 2015 | 20:58 IST
QuotePM Modi visits Mongolia; first ever visit by an Indian Prime Minister
QuoteShri Modi visits the Gandan Monastery; presents a Bodhi Tree Sapling to Hamba Lama
QuotePM Modi addresses the Great Khural in Mongolia
QuotePM Narendra Modi meets President of Mongolia Mr. Elbegdorj Tsakhia
QuoteShri Modi lays the foundation stone for Atal Bihari Vajpayee ICT Training Centre
QuotePM Modi attends Mini Naadam Festival in Mongolia

On May 17th, Prime Minister Narendra Modi reached Mongolia. This was the second leg of his three nation tour. The Mongolia visit was historic and attached paramount importance as it was the first ever visit by an Indian Prime Minister.

Morning of May 17th, Shri Narendra Modi received a Ceremonial welcome in Mongolia that was followed by high level delegation talks.

Various agreements were signed between both the nations. Shri Modi expressed his delight to have got the opportunity to visit Mongolia. Shri Modi also considered Mongolia to be an integral part of India’s Act East Policy.

Shri Modi hoped that this historic cooperation with Mongolia would deepen cooperation in border security and cyber security in times to come. He was optimistic that a new era of partnership would develop between both the nations.

PM Modi paid a visit to the Gandan Monastery. He also presented a Bodhi Tree Sapling to Hamba Lama. Taking to twitter, he shared a few moments from the visit and shared it with his admirers.

 

At the Gandan Monastery. Presented a Bodhi Tree Sapling to Hamba Lama. #Mongolia #Buddhism #Monastery

A photo posted by Narendra Modi (@narendramodi) on

Prime Minister Narendra Modi addressed the Great Khural (Parliament of Mongolia)

Shri Narendra Modi also met President of Mongolia Mr. Elbegdorj Tsakhia. The PM presented him a specially commissioned reproduction of a rare 13th century manuscript on the history of Mongols.

President of Mongolia also presented Shri Modi with a unique gift.

Shri Narendra Modi laid the foundation stone for Atal Bihari Vajpayee IT Training Centre.

Prime Minister Modi also got a chance to form a part of the Mini Naadam Festival where he tried his hands playing the Yoochin.

Later, Shri Modi reached out to the people at the Art of Living event.

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Cabinet approves continuation of Modified Interest Subvention Scheme (MISS) for FY 2025-26 with existing 1.5% Interest Subvention (IS)
May 28, 2025

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today approved the continuation of the Interest Subvention (IS) component under the Modified Interest Subvention Scheme (MISS) for the financial year 2025-26, and approved required fund arrangements.

MISS is a Central Sector Scheme aimed at ensuring the availability of short-term credit to farmers at an affordable interest rate through Kisan Credit card (KCC). Under the Scheme:

  • Farmers received short-term loans of up to Rs.3 lakh through Kisan Credit Cards (KCC) at a subsidized interest rate of 7%, with 1.5% interest subvention provided to eligible lending institutions.

 

  • Additionally, farmers repaying loans promptly are eligible for an incentive of up to 3% as Prompt Repayment Incentive (PRI) effectively reducing their interest rate on KCC loans to 4%.

 

  • For loans taken exclusively for animal husbandry or fisheries, the interest benefit is applicable up to Rs.2 lakh.

 

No changes have been proposed in the structure or other components of the scheme.

There are more than 7.75 crores of KCC accounts in the country. The continuation of this support is critical to sustaining the flow of institutional credit to agriculture, which is vital for enhancing productivity and ensuring financial inclusion for small and marginal farmers.

Key highlights of Agriculture Credit:

  • Institutional credit disbursement through KCC increased from Rs.4.26 lakh crore in 2014 to Rs. 10.05 lakh crore by December 2024.

 

  • Overall agricultural credit flow also rose from Rs.7.3 lakh crore in FY 2013-14 to Rs.25.49 lakh crore in FY 2023-24.

 

  • Digital reforms such as the launch of the Kisan Rin Portal (KRP) in August 2023 have enhanced transparency and efficiency in claim processing.

 

Given the current lending cost trends, median MCLR and repo rate movements, retaining the interest subvention rate at 1.5% remains essential to support rural and cooperative banks and ensure continued access to low-cost credit for farmers.

The Cabinet’s decision reinforces the Government’s unwavering commitment to doubling farmers’ income, strengthening the rural credit ecosystem, and boosting agricultural growth through timely and affordable credit access.