Master Circular – Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)
The Master Circular outlines the guidelines for the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), a program aimed at promoting rural livelihoods.
Key Components:
Women Self-Help Groups (SHGs) and their Federations are eligible for financial assistance, including Revolving Fund (RF) and Community Investment Support Fund (CIF).
Financial Assistance:
Capital Subsidy has been discontinued under DAY-NRLM. Instead, Interest subvention is introduced to support SHGs.
Role of Banks:
Banks are required to:
- Open savings accounts for SHGs and their Federations
- Extend loans to eligible SHGs, with a minimum loan amount of ₹50,000
- Ensure repayment of loans, with a focus on cash flow-based lending
- Provide security and margin as per bank’s norms
- Deal with defaulters as per bank’s policy
Other Key Aspects:
Credit target planning, post-credit follow-up, and repayment are crucial components of the program.
Banks are expected to depute officials to support the implementation of DAY-NRLM.
The Master Circular aims to promote rural livelihoods by providing financial assistance and support to Women SHGs and their Federations.
Chat with the Master Circular:
Download: Master Circular – Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)