Master Circular – Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)
The DAY-NRLM aims to promote women’s Self-Help Groups (SHGs) and their federations, providing financial assistance and support.
Financial Assistance: Revolving Fund (RF) is provided to SHGs, while Capital Subsidy has been discontinued. Community Investment Support Fund (CIF) is also available.
Interest Subvention: Introduced to support SHGs, with banks playing a crucial role in implementing the scheme.
Role of Banks:
– Open savings accounts for SHGs and their federations.
– Lending norms: SHGs must meet eligibility criteria to avail loans, with varying loan amounts and repayment terms.
– Purpose of loan and repayment: Loans are for income-generating activities, with repayment terms specified.
– Security and Margin: Banks may require security and margin for loans.
– Dealing with Defaulters: Banks must follow RBI guidelines for defaulters.
Implementation and Monitoring:
– Credit Target Planning: Banks must plan credit targets for SHGs.
– Post credit follow-up: Banks must monitor loan utilization and repayment.
– Repayment: SHGs must repay loans as per agreed terms.
– Deputation of bank officials to SRLMs: Banks may depute officials to State Rural Livelihoods Missions (SRLMs) for implementation and monitoring.
– Supervision and monitoring: RBI will supervise and monitor the scheme’s implementation.
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Download: Master Circular – Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)