Overview of DAY-NRLM
The Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) aims to promote rural livelihoods through women Self-Help Groups (SHGs) and their federations.
Financial Assistance
SHGs can receive financial assistance through Revolving Funds, Capital Subsidy, and Community Investment Support Fund (CIF).
Role of Banks
Banks play a crucial role in implementing DAY-NRLM by:
Opening Savings/Current Accounts for SHGs and their federations.
Lending to SHGs and their individual members, with eligibility criteria, loan applications, and credit facilities.
Providing Interest Subvention to SHGs.
Loan Details
Loans to SHGs have specific criteria, including:
Eligibility Criteria, Loan Application, Loan Amount, and Purpose of Loan and Repayment.
Security and Margin requirements, as well as Dealing with Defaulters and Documentation and Follow-up.
Recovery and Monitoring
Banks are responsible for Recovery of loans and Credit Target Planning and Monitoring of the scheme.
Additional Support
Banks are expected to provide Financial Literacy to SHGs and share data with DAY-NRLM authorities.
DAY-NRLM provides support to banks through training and capacity building.
Chat with the Master Circular:
Download: Master Circular – Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)