Centre to give Rs 1-3 lakh loans to self-help groups at very low rates
April 19, 2017 | Business Standerd |Full Article
The Central government, as part of the existing National Rural Livelihood Mission (NRLM), plans to facilitate women-led self-help groups (SHGs) by giving them bank loans of over Rs 1,00,000 and up to Rs 3,00,000 for undertaking various activities at easy interest rates.
Under the same, all women SHGs that avail off loans up to Rs 3,00,000 from banks are charged interest at the rate of 7 per cent per annum and they also get additional interest subvention of 3 per cent of timely repayment, which brings down their effective rate of interest to just 4 per cent per annum.
Loans to women SHGs will rise to Rs 75k crore: Arun Jaitley
Feb 01, 2018 | THE ECONOMICS TIMES | Full Article
Finance Minister Arun Jaitley on Thursday said loans to women self-help groups (SHGs), which grew by 37 per cent year-on-year, will increase to Rs 75,000 crore by March 2019.
He proposed to increase the allocation to the National Rural Livelihood Mission to Rs 5,750 crore in 2018-19.