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HKMA and banking sector support SMEs from various industries

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA), together with the banking sector, introduced today (April 8) sector-specific support measures to further assist more small and medium-sized enterprises (SMEs) in obtaining bank financing and in their upgrade and transformation. The measures were introduced following meetings held by the Banking Sector SME Lending Coordination Mechanism (Mechanism) and the Taskforce on SME Lending (Taskforce) today.
 
Since the launch of the “9+5” (Note 1) SME support measures by the HKMA and the banking sector last year, more than 39 000 SMEs have benefitted from these measures, involving an aggregate credit limit of over HK$95 billion. The total amount of dedicated funds for SMEs set aside by the participating banks in the Taskforce in their loan portfolio has increased from HK$370 billion in October 2024 to more than HK$390 billion at present.
 
With the establishment of the Taskforce in August 2024, the HKMA and the banking sector have been actively strengthening the work of supporting SMEs at both the individual case and the industry levels. Up until the end of March 2025, the Taskforce has received around 590 enquiries and cases from various industries through different channels, of which nearly 90 per cent have been handled. At the industry level, the Taskforce has held more than 160 engagement events with trade associations and representatives from different industry sectors―including the retail and wholesale, import and export and manufacturing, construction, and transport sectors ― to gain a deeper understanding of the operations of SMEs in various industries.
 
In the light of the current trade tension and uncertainties surrounding the external economic environment, and after taking into account and discussing the views of the commercial sectors in the Mechanism and Taskforce meetings, the banking sector reaffirmed its commitment to actively implement the “9+5” SME support measures previously launched. The banking sector will continue to be accommodative in offering credit reliefs, including flexible repayment arrangements and deferment of repayment period, referencing the principles under the Pre-approved Principal Payment Holiday Scheme, to assist corporates in coping with their liquidity needs. Furthermore, banks will introduce more targeted support for various industries under the overarching principle of prudent risk management:
 

  1. Import and export and manufacturing sectors: The commercial sectors reflected their concerns about the current global trade frictions during the meeting. The participating banks agree to provide flexible extensions to trade facilities (e.g. 90 or 120 days), or offer alternative suitable credit arrangements (such as repaying the trade loans by instalments, providing partial principal repayment options, or even offering principal moratorium), to assist individual customers experiencing short-term cashflow pressure due to trade frictions. The Mechanism and the Taskforce will closely monitor the latest developments regarding global tariff disputes and maintain dialogue with the import and export and manufacturing sectors. 
      
  2. Construction sector: The participating banks will assist corporates facing cashflow pressure, particularly subcontractors in the construction sector that may be experiencing sudden cashflow pressure due to capital chain rupture, through a collaborative mechanism. The banks will collaboratively offer flexible financial arrangements as far as practicable to alleviate customers’ cashflow pressure. 
     
  3. Transport sector: The participating banks will actively consider introducing financing products that are better suited to the transport sector, with a view to supporting the Government’s implementation of measures to enhance taxi services. The banks will offer more flexible repayment arrangements to assist customers in coping with operational challenges, taking into account individual circumstances. The banks will also consider correspondingly extending the loan tenor to support the development of the sector (Note 2).

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     Furthermore, the HKMA and the banking sector will support the economic development of Hong Kong in other areas, including:
 

  1. Lease extension: The banking sector will strengthen the promotion of the Extension of Government Leases Ordinance (the Ordinance) (Note 3). Banks will ensure that frontline staff are familiar with land lease extension matters under the Ordinance, so that they can properly address customers’ mortgage enquiries related to land leases and offer suitable services to them. 
     
  2. Northern Metropolis development: With the HKMA’s facilitation, the Hong Kong Association of Banks and the Chinese Banking Association of Hong Kong have recently engaged with the Development Bureau to gain an understanding of the latest development of the Northern Metropolis. The banking sector will explore ways to provide suitable financing support to tie in with the Government’s implementation of large-scale land disposal and other developments. 

The HKMA and the banking sector will maintain close communication with the commercial sectors through the Mechanism and the Taskforce and work in concert to support the business development and transformation of SMEs.
 
Background
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The Banking Sector SME Lending Coordination Mechanism

The Banking Sector SME Lending Coordination Mechanism was established by the HKMA in October 2019. Participants include 11 banks (Note 4) that are most active in SME lending, the Hong Kong Association of Banks (HKAB) and the HKMC Insurance Limited. Since its establishment, the HKMA and the Mechanism have rolled out several rounds of relief measures for corporates, including the Pre-approved Principal Payment Holiday Scheme and the nine SME support measures launched in March 2024.
 
The Taskforce on SME Lending

The Taskforce on SME Lending was jointly established by the HKMA and HKAB in August 2024. Participants include representatives of the HKMA, HKAB and 18 banks (Note 5) that are active in SME lending. The Taskforce aims to further strengthen the related work for supporting SMEs at both the individual case and the industry levels. These include setting up a mechanism to handle individual cases of SMEs encountering difficulties when obtaining bank financing, working out appropriate solutions across banks and enhancing communication among the HKMA, the banking industry and the commercial sector so as to understand the financing needs of SMEs in a more timely manner.

Note 1: The HKMA and the banking sector introduced nine measures to support SMEs’ access to financing and continuous development in March 2024, and another five measures to support SMEs’ upgrade and transformation in October 2024.

Note 2: The above-mentioned arrangements are also applicable to taxi loans, public light bus loans and commercial vehicle loans taken out by personal customers. 

Note 3: Under the Ordinance, which came into effect on July 5, 2024, general purpose leases (i.e. general residential, commercial, industrial leases) will be extended upon expiry for a term of 50 years without payment of any additional premium, but subject to an annual payment of Government rent at 3 per cent of rateable value. The encumbrances, interests and rights under the original lease (such as mortgages) will be carried forward to the extended lease term without being affected, and owners are no longer required to execute lease extension documents with the Government or re-arrange mortgages. The Ordinance is not applicable to special purpose leases (SPL) (including purposes such as petrol filling station, education, recreation, public utility, welfare and special industries). The Lands Department has made an “SPL identification note” in the Land Registry register for SPLs for identification.

Note 4: Bank of China (Hong Kong), Bank of East Asia, China Construction Bank (Asia), Citibank, Dah Sing Bank, DBS Bank (Hong Kong), Hang Seng Bank, The Hongkong and Shanghai Banking Corporation, Industrial and Commercial Bank of China (Asia), OCBC Bank (Hong Kong), and Standard Chartered Bank (Hong Kong).

Note 5: Including the 11 banks participating in the Mechanism, and Bank of Communications (Hong Kong), China CITIC International, Fubon Bank (Hong Kong), Fusion Bank, Nanyang Commercial Bank, PAO Bank and Shanghai Commercial Bank.

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Business of Innovation and Technology Week in April to showcase Hong Kong’s innovation and technology strengths

Source: Hong Kong Government special administrative region

Business of Innovation and Technology Week in April to showcase Hong Kong’s innovation and technology strengths 
     The third InnoEX, co-organised by the ITIB and the Hong Kong Trade Development Council (HKTDC), will occur from April 13 to 16 at the Hong Kong Convention and Exhibition Centre (HKCEC). This annual event brings together I&T elites, enterprises and buyers from the Mainland and overseas to jointly promote I&T advancements and applications and explore global collaboration opportunities. Themed “Innovation • Automate • Elevate”, this year’s InnoEX will showcase cutting-edge technology solutions across five key areas: low-altitude economy, artificial intelligence, robotics, cybersecurity and smart mobility. A highlight of the event is the Smart Hong Kong Pavilion set up by the Digital Policy Office, which will showcase over 100 I&T solutions, including those developed by different government departments in relation to citizens’ daily lives, as well as award-winning I&T projects by local innovators and students, demonstrating Hong Kong’s achievements in I&T and smart city development. 
 
     The second Hong Kong World Youth Science Conference and the Xiangjiang Nobel Forum 2025 will also take place from April 13 to 16 at the HKCEC. Organised by the Hong Kong Alumni Association of Beijing Universities with the full support of the ITIB, the event will gather top-notch I&T talent and renowned scientists, including laureates of the Nobel Prize and Turing Award, in Hong Kong. Through keynote speeches, roundtable forums and other formats, participants will tap into global wisdom on cutting-edge topics in the areas of big data, AI, biotechnology, new materials and large models, thereby enhancing Hong Kong’s status in the international scientific arena.  
 
     Meanwhile, another major I&T highlight this April – the World Internet Conference Asia-Pacific Summit – a high-level global Internet conference, will take place on April 14 and 15 at the HKCEC. Under the theme “Integration of AI and Digital Technologies Shaping the Future – Jointly Building a Community with a Shared Future in Cyberspace”, the Summit will focus on forward-looking discussions in large AI models, digital finance, and digital government and smart life, attracting around 1 000 participants from the Mainland and overseas, including representatives from governments and enterprises, international organisations, internet giants, experts and scholars to attend in person.
 
     The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, “This April, Hong Kong’s BIT Week will bring together I&T elites from 29 countries and regions and over 2 800 exhibitors. Through a series of exhibitions, forums, seminars, business networking, talent matching and industry events, we will showcase Hong Kong’s I&T strengths and unique edge to the world. The Hong Kong Special Administrative Region Government is particularly delighted to co-organise the Asia-Pacific Summit with the World Internet Conference for the first time in Hong Kong, creating a top-notch platform for exchanges, dialogue and co-operation in I&T, and further strengthening Hong Kong’s position as an international I&T centre.”
 
     Other major industry events during the BIT Week include the HKTDC’s Hong Kong Electronics Fair (Spring Edition) and Smart Lighting Expo, as well as the Hong Kong Web3 Festival cohosted by Wanxiang Blockchain Labs and HashKey Group and organised by W3ME, all contributing to the prosperous development of Hong Kong’s I&T ecosystem and greater synergies. 
 
     Details of the BIT Week events can be found at bitweek.hktdc.com/enIssued at HKT 17:33

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Chief Executive in Council approves railway scheme of Northern Link Main Line

Source: Hong Kong Government special administrative region

The Chief Executive in Council today (April 8) authorised the railway scheme of the Northern Link (NOL) Main Line in accordance with the Railways Ordinance (Cap. 519).

Taking into account the pace of developments along the NOL, the NOL project is implemented in two phases. Phase 1 involves the construction of the Kwu Tung (KTU) Station above the tunnel structure of the existing Lok Ma Chau Spur Line of the East Rail Line (EAL). The construction works of the KTU Station project commenced in September 2023 with target completion in 2027 to tie in with the intake of major new population of Kwu Tung North New Development Area. Phase 2 is the NOL Main Line, which involves the construction of a 10.7-kilometre railway connecting the existing Kam Sheung Road (KSR) Station of the Tuen Ma Line (TML) and the KTU Station, with three intermediate stations at Au Tau, Ngau Tam Mei and San Tin. The detailed planning and design of the NOL Main Line have been substantially completed, and the advance works have also commenced. The target is to complete the works of the Main Line by 2034.

A Government spokesperson said, “The NOL Main Line will become the main transportation backbone of the Northern Metropolis, unleashing the development potential of land along the railway. It will also connect the existing TML and the EAL, forming a railway loop linking up the New Territories and the Kowloon urban area, substantially improving the connections of the existing railway network. When the NOL Main Line comes into operation, the expected travel time between KSR Station and KTU Station is expected to be substantially reduced from the current 60 to 80 minutes during peak hours to about 12 minutes.”

“The Government and the MTR Corporation Limited (MTRCL) have collected public views on the NOL Main Line project through various channels earlier, including consulting the North District Council and the Yuen Long District Council, exchanging views with relevant rural committees and stakeholders and organising various publicity activities in the community. The public is generally supportive of the NOL Main Line project,” the spokesman added.

The original scheme of the NOL Main Line was gazetted on October 6, 2023, with two subsequent amendments. The first amendment and correction to the scheme was gazetted on May 3, 2024, and the second amendment to the scheme was gazetted on August 30, 2024. In respect of the objections received, the Government together with the MTRCL has carefully studied the grounds of each opinion, and met with the objectors to explain the railway scheme and respond to their concerns. All of the unwithdrawn objections have been submitted to the Executive Council for consideration.

“During the implementation of the NOL Main Line project, the MTRCL will continue to maintain close communication with relevant stakeholders. Furthermore, the MTRCL is also required to comply with the conditions set out in the environmental permit issued by the Director of Environmental Protection to mitigate the environmental impacts of the works,” the spokesman said.

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DDWS joins hands with Ministry of Women and Child Development for Poshan Pakhwada 2025, promoting “Shuddh Jal aur Swachhta Se SwasthBachpan” campaign

Source: Government of India

DDWS joins hands with Ministry of Women and Child Development for Poshan Pakhwada 2025, promoting “Shuddh Jal aur Swachhta Se SwasthBachpan” campaign

7th edition of Poshan Pakhwada from 8th to 23rd April 2025
“Purn Poshan Ki Shuruwaat, Shuddh Jal aur Swachhta Ke Saath” will be the campaign tagline

The campaign focusing on clean water practices and sanitation as crucial elements for a child’s nutrition and overall health

Extensive awareness generation sessions and sensitisation activities to be carried out by States/ UTs

Posted On: 08 APR 2025 2:57PM by PIB Delhi

Department of Drinking Water and Sanitation (DDWS) under Ministry of Jal Shakti, is actively participating in the 7thedition of Poshan Pakhwada from 8thto 23rdApril 2025. Aligning with the Ministry of Women and Child Development’s Saksham Anganwadi scheme, the department’s campaign is themed “Shuddh Jal aur Swachhta Se SwasthBachpan” (Clean Water and Sanitation for Healthy Childhood), with a tagline “Purn Poshan Ki Shuruwaat, Shuddh Jal aur Swachhta Ke Saath” focusing specifically on clean water practices and sanitation as crucial elements for a child’s nutrition and overall health.

Poshan Pakhwada aims to combat malnutrition through behaviour changes at individual, family, and community levels, highlighting four key areas:

  • Emphasis on the first 1000 days of human life
  • Popularization of the Beneficiary Module in the Poshan Tracker App
  • Effective management of malnutrition through the CMAM module
  • Promotion of healthy lifestyles to address childhood obesity

States/ UTs will conduct extensive community-level activities to underline the critical role of safe drinking water and sanitation practices in preventing malnutrition and diseases.

 Planned activities include:

  • Shuddh Jal and Swachhta Drive: Conducting community sessions on safe drinking water, sanitation practices, hand hygiene, composting, and waste management.
  • Capacity Building for Anganwadi Workers: Sensitization sessions and training on safe water consumption and good sanitation practices to aid in better counselling for mothers.
  • Awareness Generation for Lactating Mothers: IEC activities by Anganwadi and ASHA workers on safe drinking water and sanitation to enhance community health.
  • Smart Poshan Anganwadi Certification: Recognizing top-performing Anganwadi Centers for maintaining high hygiene and nutrition standards.
  • Swachh Jal, Sundar Aangan Initiative: Improving sanitation facilities at Anganwadi centers with community and Self-Help Groups (SHGs) involvement, including murals and child-friendly water stations.
  • Awareness Rallies: Community mobilization focusing on preventing waterborne diseases through proper sanitation and hygiene.

Department will also complement the efforts of WCD by promoting the campaign over social media platforms which is an integral part of the campaign, utilizing hashtags #DDWSJoinsPoshanPakhwada and #PoshanPakhwada to maximize outreach and impact.

Through these collective efforts, including WASH (Water, Sanitation, and Hygiene) initiatives, the Jal Jeevan Mission, and the Swachh Bharat Mission-Grameen, Poshan Pakhwada aims to create enduring awareness and drive substantial behavioral change in rural communities, enabling improved health, sanitation, and nutrition for every child in India.

To know more about the mission, click: https://www.jalshakti-ddws.gov.in/

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Dhanya Sanal K

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Department of Financial Services notifies amalgamation of 26 RRBs in fourth phase of amalgamation

Source: Government of India

Posted On: 08 APR 2025 2:31PM by PIB Delhi

Department of Financial Services (DFS) has notified amalgamation of 26 Regional Rural banks (RRBs) on the principles of “One State One RRB”. This is fourth phase of amalgamation of RRBs.

Considering the improvement in efficiency of the RRBs due to amalgamations in the past, Ministry of Finance had rolled out an amalgamation plan in November-2024 for consultation with stakeholders. After consultation with stakeholders, amalgamation of 26 RRBs in 10 States and 1 UT  have been carried out with primary focus on improvement in scale efficiency and cost rationalization.

At present, 43 RRBs are functioning in 26 States and 2 UTs. Post amalgamation, there will be 28 RRBs in 26 states and 2 UTs with more than 22000 branches covering 700 districts. Their predominant area of operation is in rural areas with approx. 92% of branches in rural/semi urban areas.

This is fourth phase of amalgamation. In previous 3 phases viz. Phase-I (FY 2006 to FY 2010) number of RRBs were reduced from 196 to 82, Phase-2 (FY 2013 – FY 2015) number of RRBs were reduced from 82 to 56 and Phase-3 (FY 2019 to FY 2021) number of RRBs were reduced from 56 to 43.

Click here for the gazette notification.

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New batch of declarations for “Well-off Tenants Policies” and “Occupancy Status” commences

Source: Hong Kong Government special administrative region

New batch of declarations for “Well-off Tenants Policies” and “Occupancy Status” commences 
     The Hong Kong Housing Authority (HA) has distributed the “Well-off Tenants Policies” (WTP) declaration forms and “Declaration Form on Occupancy Status” to approximately 210 000 public rental housing (PRH) tenants involved in the new batch of declaration cycle of WTP. A spokesman for the HA today (April 8) reminded the relevant tenants that they must return the completed forms to the Housing Department (HD) by May 31 this year.
 
     Both declaration forms were delivered into the letter boxes of the tenants concerned on April 1. Tenants are required to declare their income, assets, and any domestic property ownership in Hong Kong in the WTP declaration forms, as well as confirm their regular and continuous residence in the PRH flats and report any left vacant or unauthorised use of the PRH flats in the “Occupancy Status” declaration forms.  
 
     The spokesman reminded tenants and their family members that they must truthfully make declarations. Those who knowingly made false declarations may be prosecuted. Tenants should note the following key points:
 
(i) Tenants who refuse to declare will have their tenancies terminated;
(ii) Tenants must declare honestly to the HA their occupancy status, income, assets, and any domestic property ownership in Hong Kong; including any household members who have signed purchase agreements (including preliminary agreements) or acquired any domestic properties (including uncompleted flats), along with the expected date of assignment and completion of transactions;
(iii) PRH households whose tenancies are terminated due to abuse of PRH resources and breaches of the tenancy agreement, such as abandoning or subletting the units or using the units for illegal use, will be ineligible to apply for PRH for five years;
(iv) For households whose tenancies are terminated under the WTP due to ineligibility for continuous renting of PRH flats, the member(s) who have made false declarations will be subject to a five-year debarment from applying for PRH and are liable to prosecution; 

     Under the prevailing WTP, PRH tenants who have resided for 10 years are required to declare their income, assets and property ownership in Hong Kong every two years. Except for the aforesaid tenants, other tenants will receive declaration forms in later batches and do not need to worry.Issued at HKT 17:00

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Results for Hong Kong-Europe-Asian Film Collaboration Funding Scheme announced

Source: Hong Kong Government special administrative region

Results for Hong Kong-Europe-Asian Film Collaboration Funding Scheme announced 
The assessment of the Hong Kong-Europe-Asian Film Collaboration Funding Scheme (HKEA Scheme) under the Film Development Fund has been completed. Two selected film projects will each receive a maximum of $9 million for their productions. Details of the winning projects are at the Annex.
 
Dr Wilfred Wong, the Chairman of the Hong Kong Film Development Council, said, “After the launch of the first phase of the Hong Kong-Asian Film Collaboration Funding Scheme, the response was enthusiastic. In the second phase, we further expanded the coverage of the scheme to Europe, hoping to broaden the perspectives of the film creative teams and bring more inspiration to Hong Kong teams by leveraging Europe’s rich cultural and film history in order to bring Hong Kong films to the world. In this phase, we selected two projects from more than 20 applications. These projects fully demonstrate the cultural exchange between the two regions and the remarkable creativity of the creative teams. I look forward to seeing the finished films shine both in Hong Kong and overseas in the near future.”
 
Announced in “The Chief Executive’s 2023 Policy Address”, the HKEA Scheme aims to subsidise film projects coproduced by filmmakers from European and Asian countries to produce films featuring Hong Kong, European and Asian cultures, enabling Hong Kong films to go global, as well as achieving in-depth cultural exchange and mutual learning.
Issued at HKT 16:25

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Opening remarks by SCS at LegCo Finance Committee special meeting

Source: Hong Kong Government special administrative region

Opening remarks by SCS at LegCo Finance Committee special meeting 
Chairman,
 
     Among the matters related to the civil service in the 2025-26 Draft Estimates of Expenditure, I would like to focus my introduction on the following items.
 
     The first item is the civil service establishment. We have implemented the zero-growth policy in the civil service establishment since 2021-22 with the overall establishment controlled at a level not exceeding that as at end-March 2021, i.e. about 196 000 posts. With the concerted efforts of bureaux and departments, the civil service establishment has been reducing every year. It is anticipated that by March 31, 2026, the overall civil service establishment will have reduced to about 193 000 posts, i.e. a reduction by approximately 3 000 posts on a cumulative basis.
 
     To better utilise manpower resources, we will trim the civil service establishment further, reducing it by 2 per cent each in 2026-27 and 2027-28 basing on the establishment of the preceding financial year. By April 1, 2027, about 10 000 posts are expected to be deleted from the civil service establishment within this term of Government. The resources saved will be included in the 2 per cent savings of the recurrent expenditure of the departments concerned under the Financial Services and the Treasury Bureau’s Productivity Enhancement Programme.
 
     In addition, the Government has put forward in the Budget that for 2025-26, the executive authorities, the legislature, the judiciary and members of the District Councils take a pay freeze. This applies to members of the civil service. The effective date of the civil service pay freeze is April 1, 2025.
 
     I understand recent concerns over the civil service establishment. Some people think that since the current vacancy rate stands at about 10 per cent, cutting the vacancies directly will achieve greater savings in expenditure. I would like to take this opportunity to clarify the matter. The reduction in the civil service establishment proposed in the Budget aims to optimise manpower arrangements through reorganisation and reprioritisation of work while maintaining the efficiency of public services. To this end, all posts, both filled and vacant, will be reviewed to ascertain the necessity to retain them. It does not mean that we can achieve the objective simply by deleting all vacant posts. For posts that are essential to the provision of public services, such as Air Traffic Control Officers and Station Officers, we have to retain them, and recruitment will continue. For posts currently occupied, they are not immune from deletion but may be deleted after the transfer of the incumbents and redistribution of work.
 
     As a matter of fact, with the increasing workload of the Government, it requires much effort in planning for departments to cut expenditure and reduce their establishment at the same time. However, it also presents a good opportunity for them to think outside the box and adopt innovative thinking to enhance efficiency and effectiveness. The Government will continue to promote the adoption of management measures and digitalisation among departments with a view to optimising the use of civil service manpower resources and enhancing efficiency by reprioritising their work, redeploying internal resources, streamlining procedures and leveraging technology. In so doing, the leaner civil service can continue to deliver high-quality public services.
 
     The second item is about civil service training. The Civil Service College will continue to take forward various initiatives to strengthen the governance capabilities of the civil service. The relevant estimated expenditure is about $255 million in 2025-26. The College will launch the Governance Talents Development Programme as proposed in the Policy Address to nurture governance talent with a macro perspective and professional leadership ability. It will also continuously enhance the content on technology application in civil service leadership training, enabling departmental leaders to better grasp the impact of technological development on public policy formulation and implementation. This will equip them to take on leadership responsibilities, guiding their departments to leverage technology, including optimising departmental information technology systems, better utilising big data and artificial intelligence to transform public services, and arranging appropriate training for departmental staff.
 
     Regarding the medical and dental benefits for civil servants, the Government will continue to honour its contractual obligation as the employer and provide medical benefits for serving civil servants, pensioners and other eligible persons. The medical services provided by the Hospital Authority as part of the medical benefits have been included in the overall provision allocated to it. Regarding Families Clinic services and dental services provided by the Department of Health (including the pilot scheme on provision of dental scaling services via private dental organisations and the pilot scheme on receiving designated dental services at a medical institution in Shenzhen), a provision of around $1,158 million has been reserved. Also, we have reserved about $1,766 million to cover the expenditure on reimbursement of medical expenses that cannot be fully anticipated.
 
     The Civil Service Bureau will continue to implement various policies and initiatives, such as strengthening civil service training, continuing to organise the Civil Service Staff Exchange and Collaboration Programme jointly with Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area and beyond, further enhancing the civil service disciplinary mechanism, implementing the two pilot schemes on dental services for civil servants, providing childcare leave for government employees, etc.
 
     Chairman, this is the end of my introduction. I would welcome questions from Members.
Issued at HKT 16:03

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Hong Kong Customs alerts public to fraudulent phone calls

Source: Hong Kong Government special administrative region

Hong Kong Customs alerts public to fraudulent phone calls 
Customs has recently received a number of public enquiries about receiving phone calls from +852 2815 7711, which is the same number as Customs’ General Enquiry Hotline (2815 7711), or from other local mobile phone numbers. The callers claimed to be an officer of Hong Kong Customs and told members of the public concerned that they had an express parcel or cargo consignment seized by Customs because contraband items had been found therein. Some of the callers also requested members of the public to take further actions, such as visiting the Shenzhen Bay Control Point or other control points for investigations or penalty payments, or downloading unknown mobile applications.
 
Customs clarified that the department had not made any of the calls in question. If Customs officers need to contact members of the public, they will provide relevant information to verify the identity of both parties, but will not request the public to provide sensitive personal information nor download unofficial mobile applications.
 
Customs has reported the incident to the Police for follow-up investigations.
 
Customs reminds members of the public to remain vigilant and verify the identity of a caller when receiving any suspicious phone call, and do not disclose their personal information to others arbitrarily. If in doubt, please report to the Police immediately.
 
Customs said impersonating a public officer is a serious offence and urged the public not to defy the law.
Issued at HKT 16:00

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Prime Minister Shri Narendra Modi interacts with MUDRA Yojana beneficiaries

Source: Government of India

Prime Minister Shri Narendra Modi interacts with MUDRA Yojana beneficiaries

Mudra Yojana is not limited to any specific group but aims to empower the youth to stand on their own feet: PM

Mudra Yojana has a transformative impact in fostering entrepreneurship and self-reliance: PM

Mudra Yojana has brought a silent revolution with shift in the societal attitude about entrepreneurship: PM

Women are among the highest beneficiaries of Mudra scheme: PM

52 crore loans have been disbursed under the scheme, a monumental achievement unparalleled globally: PM

Posted On: 08 APR 2025 12:03PM by PIB Delhi

The Prime Minister Shri Narendra Modi interacted with MUDRA Yojana beneficiaries on the occasion of completion of 10 years of Pradhan Mantri Mudra Yojana at 7, Lok Kalyan Marg in New Delhi today. He extended his heartfelt gratitude to all attendees, emphasizing the cultural significance of welcoming guests and the sanctity their presence brings to a home. He invited participants to share their experiences. Shri Modi, interacting with a beneficiary who has turned a pet supplies, medicines, and services entrepreneur, highlighted the importance of expressing gratitude to those who believed in one’s potential during challenging times. He asked the beneficiary to invite the bank officials who had approved loans and showcase the progress made due to the loan. Shri Modi emphasized that such actions would not only acknowledge their trust but also inspire confidence in their decision to support individuals who dared to dream big. He further noted that demonstrating the outcomes of their support would undoubtedly make them feel proud of their contribution to fostering growth and success.

Speaking to Shri Gopi Krishna, an entrepreneur from Kerala, the Prime Minister highlighted the transformative impact of the Pradhan Mantri Mudra Yojana which enabled him to transition into a successful entrepreneur, focusing on renewable energy solutions for households and offices while creating job opportunities. The Prime Minister noted the beneficiary’s journey, after deciding to resign from his company in Dubai upon learning about the Mudra Loan. He noted that the solar installations under the PM Surya Ghar initiative were completed within two days. He also heard about the reactions of beneficiaries of the PM Surya Ghar initiative, noting that households in Kerala now enjoy free electricity despite challenges such as heavy rainfall and dense tree cover. Shri Krishna remarked that electricity bills, previously around ₹3,000, have now reduced to ₹240-₹250, while his monthly earnings have reached ₹2.5 lakh and above. 

The Prime Minister further interacted with a female entrepreneur and the founder of House of Puchka from Raipur, Chattishgarh, who shared her inspiring journey from cooking at home to establishing a successful café business. She said that research into profit margins and food cost management played a crucial role in this entrepreneurial success. She further added that there is fear in the minds of the youth, stating that many prefer settling into jobs rather than taking risks. The Prime Minister in response, highlighted the importance of risk-taking capacity and shared that the founder of House of Puchka, at the age of 23, leveraged her ability to take risks and her time effectively to build her business. The beneficiary remarked on the discussions among friends from Raipur, the corporate world, and students, noting their curiosity and questions about entrepreneurship. She further highlighted the lack of awareness among youth regarding government schemes that provide funding without requiring collateral. She expressed gratitude that schemes like Mudra Loan and PMEGP Loan offer significant opportunities for those with potential and encouraged the youth to research these schemes and take bold steps, stating that the sky has no limits for those willing to grow and succeed.

Another beneficiary, Shri Mudassir Naqshbandi, the owner of Bake My Cake in Baramulla, Kashmir, shared his journey of transitioning from being a job seeker to a job creator, adding that he has provided stable employment to 42 individuals from remote areas of Baramulla. The Prime Minister enquired about his earnings before receiving MUDRA loan, to which Mudassir replied that his earnings were in thousands, but his entrepreneurial journey has now elevated him to earning in lakhs and crores. The Prime Minister acknowledged the widespread use of UPI in Mudassir’s business operations. He noted Mudassir’s observation that 90% of transactions are conducted through UPI, leaving only 10% of cash in hand.

The Prime Minister then heard the inspiring journey of Shri Suresh, who transitioned from a job in Vapi to becoming a successful entrepreneur in Silvassa. Suresh said that in 2022, he realized that a job alone would not suffice and decided to start his own business. He added that with my success, some friends are now considering applying for Mudra Loans to start their own ventures. The Prime Minister emphasized the ripple effect of such success stories in motivating others to take bold steps toward entrepreneurship.

A woman entrepreneur from Raebareli, expressed her gratitude for the support extended to MSMEs under his leadership. She remarked on the ease of obtaining licenses and funding, which were previously challenging, and pledged to contribute to building a developed India. The Prime Minister acknowledged her emotional testimony and noted her success in running a bakery business with a monthly turnover of ₹2.5 to ₹3 lakh, providing employment to seven to eight individuals.

Shri Lavkush Mehra from Bhopal, Madhya Pradesh, started his pharmaceutical business in 2021 with an initial loan of ₹5 lakh. Despite initial apprehensions, he expanded his loan to ₹9.5 lakh and achieved a turnover of over ₹50 lakh, up from ₹12 lakh in the first year. The Prime Minister emphasized that the Mudra Yojana is not limited to any specific group but aims to empower the youth to stand on their own feet. He remarked on Lavkush’s recent achievements, including purchasing a house worth ₹34 lakh and earning over ₹1.5 lakh per month, a significant leap from his previous job earning ₹60,000 to ₹70,000. The Prime Minister congratulated him and acknowledged the role of hard work in achieving success. He also urged the beneficiaries to further spread the word to people about the MUDRA loan and its benefits.

The Prime Minister then heard the inspiring journey of a young entrepreneur from Bhavnagar, Gujarat, who founded Aditya Lab at the age of 21. The entrepreneur, a final-year Mechatronics student, successfully utilized a ₹2 lakh Mudra Loan under the Kishor category to start a business in 3D printing, reverse engineering, rapid prototyping, and robotics. The Prime Minister noted the entrepreneur’s dedication, balancing college on weekdays and business operations on weekends, earning ₹30,000 to ₹35,000 monthly while working remotely with support from family.

A woman entrepreneur from Manali shared her story of working in a vegetable market to running a successful business. She said that she started with a ₹2.5 lakh Mudra Loan in 2015-16, which she repaid within two and a half years. With subsequent loans of ₹5 lakh, ₹10 lakh, and ₹15 lakh, she expanded her business from a vegetable shop to a ration shop, achieving an annual income of ₹10 to ₹15 lakh. The Prime Minister commended their determination and the positive impact of the Mudra Yojana in empowering entrepreneurs across the country.

The Prime Minister further heard the inspiring journey of a woman entrepreneur from Andhra Pradesh, who transitioned from being a housewife to running a successful business in jute bags. She remarked that after receiving training at the Rural Self Employment Training Institute in 2019, she secured a ₹2 lakh Mudra Loan from Canara Bank without any collateral. The Prime Minister noted her determination and the bank’s trust in her potential. He acknowledged her dual role as a jute faculty member and entrepreneur, commending her efforts in empowering rural women through employment and skill development. The Prime Minister remarked on the transformative impact of the Mudra Yojana in fostering entrepreneurship and self-reliance.

Prime Minister highlighted the transformative impact of the Mudra Yojana on empowering citizens, particularly women, and fostering entrepreneurship across India. He emphasized how the scheme has provided financial support to individuals from marginalized and economically disadvantaged backgrounds, enabling them to start their own businesses without requiring guarantees or extensive paperwork. Shri Modi remarked on the silent revolution brought about by Mudra Yojana, noting the significant shift in societal attitudes towards entrepreneurship. He underlined that the scheme has empowered women by not only offering financial assistance but also creating opportunities for them to lead and grow their businesses. He pointed out that women are among the highest beneficiaries of the scheme, leading in loan applications, approvals, and swift repayments. 

Prime Minister Shri Narendra Modi highlighted the discipline instilled in individuals through responsible utilization of Mudra loans. He remarked that the scheme provides an opportunity to build lives and careers, while discouraging misuse of funds or unproductive efforts. The Prime Minister pointed out that ₹33 lakh crore has been disbursed to the citizens of India under the Mudra Yojana without the need for guarantees. He emphasized that this amount is unprecedented and surpasses any financial support extended to wealthy individuals collectively. He expressed his trust in the nation’s talented youth who have utilized the funds effectively to generate employment and stimulate the economy.

Shri Modi remarked that job creation through Mudra Yojana has significantly contributed to economic growth. He observed that the earnings of common citizens have increased, enabling them to improve their living standards and invest in education for their children. He acknowledged the societal benefits brought by the scheme.

Reflecting on the government’s commitment, the Prime Minister noted that unlike traditional approaches, his administration is actively seeking feedback after 10 years of the scheme’s implementation. He stressed the importance of reviewing the scheme’s progress by consulting beneficiaries and groups nationwide, identifying opportunities for improvement, and implementing necessary reforms for further success.

Highlighting the remarkable confidence displayed by the government in expanding the scope of Mudra loans, which initially ranged from ₹50,000 to ₹5 lakh, to now reaching ₹20 lakh, Shri Modi noted that this expansion reflects the trust placed in the entrepreneurial spirit and capabilities of India’s citizens, which has strengthened through the successful implementation of the scheme. 

Emphasising the importance of encouraging others to leverage the Mudra Yojana and start their own ventures, Shri Modi urged individuals to inspire and support at least five to ten others, fostering confidence and self-reliance among them. He highlighted that 52 crore loans have been disbursed under the scheme, a monumental achievement unparalleled globally. 

Recalling his tenure in Gujarat, Shri Modi mentioned the “Garib Kalyan Mela,” where motivational street plays inspired people to overcome poverty. He shared an anecdote about individuals surrendering their government benefits after achieving financial independence, showcasing their transformation. He narrated an inspiring story of a tribal group in Gujarat who, with a small loan, transitioned from performing traditional music to forming a professional band. This initiative not only improved their financial status but also highlighted how small efforts can lead to significant changes. He remarked that such stories of transformation inspire him and reflect the potential of collective efforts in nation-building.

Shri Modi reiterated his belief in the Mudra Yojana as a tool to study and address people’s aspirations and circumstances. He expressed confidence in the scheme’s success and urged beneficiaries to give back to society, emphasizing the satisfaction derived from contributing to the community.

The Union Minister of State for Finance, Shri Pankaj Chaudhary was present during the interaction.

 

 

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MJPS/SR

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