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GIST OF SCHEMES

GIST OF SCHEMES

Scheme Eligibility Loan amount Margin & subsidy Repayment/ Rate of Interest

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1. National Rural Livelihood Mission(NRLM)

Will promote affinity based

Women SHGs consisting of 10-15 persons.

In difficult/ remote tribal areas/groups with disabled persons - minimum of 5 persons.

Revolving Fund:

Rs.10,000/- to Rs.15,000/- per SHG.

Quantum of Credit:

Rs.50,000/- to Rs.10 lakh per SHG.

Savings of the group may be treated as Margin.

Subsidy - No Subsidy.

Repayment – 1 to 6 years.

Effective rate of interest for a maximum of Rs.3 lakh per SHG will be 7% p.a.

2. Deendayal AntyodayaYojana-National Urban Livelihoods Mission (DAY-NULM)

For Individual Enterprise: An Urban poor individual beneficiary desirous of setting up an individual micro-enterprise for self-employment.

For Group Enterprise: A Self Help Group (SHG) or members of SHG constituted under DAY-NULM or a group of urban poor for Self-Employment. The group enterprise should have minimum of 5 members with a minimum of 70% of the members from Urban poor families.

For Individual Enterprise- up to Rs. 2 Lakh.

For Group Enterprise- up to Rs. 10 Lakh

Margin

No margin money for loan up to Rs. 50,000/- and for higher amount of loans, preferably 5% will be taken as margin money and it will not be more than 10% of project cost in any case.

Subsidy

Subsidy is in the form of Interest Subsidy which will be difference between 7% Per Annum and rate of interest charged by bank. An additional 3% interest subvention will be provided to all Women SHG who repay their loan in time.

Repayment schedule would range between 5 to 7 years after initial moratorium of 6-18 months as per norms of banks.

Rate of interest will be as prescribed by the bank from time to time.

3. Scheme for Rehabilitation of Manual Scavengers (SRMS)

Scavengers and their dependents irrespective of their income who are yet to be provided assistance for rehabilitation under any scheme of Govt. of India/State Govt.

Project cost upto

Rs.5 lakh

Loan amount =

Project cost less

Capital subsidy.

Margin – Nil

Subsidy

For project cost upto Rs.25000/- 50%

For project cost above Rs.25000/- 25% of project cost with minimum of Rs.12500/- and maximum of Rs.25000/-

Repayment:

For project upto Rs.25000/-:3 years with moratorium of 6 months.

For project above Rs.25000/-:5 years with moratorium of 6 months.

Rate of interest chargeable from the beneficiaries:

For project upto Rs.25000/-

- 4% p.a. for women beneficiaries.

- 5% p.a. for others.

For project cost above Rs.25000/-

- 6% p.a.

4. Differential Rate of Interest (DRI)

The borrower`s family income from all sources must not exceed Rs.24,000/- p.a. in urban or semi-urban areas and Rs.18,000/- p.a. in rural areas.

Rs.15,000/- for gainful employment and Rs.20,000/- for housing (for SC/STs only)

Margin – Nil

Subsidy – Nil

Not exceeding 5 years.

Rate of Interest will be 4% p.a.

5. Self Help Groups (SHGs)

Self Help Groups consisting of 10-20 members.

Members of the Group should preferably have homogeneous background and interest.

The group should have successfully undertaken savings and credit operation from its own resources

Quantum of credit given in proportion to the savings mobilized by the Group. The proportion of savings to loan could vary from 1:1 to 1:10 depending upon the assessment of the Branch.

- After 6 months of formation of Group-1:4

- After completion of 1 year from date of 1st financing-1:7.

- After completion of 1 year from date of 2nd financing-1:10.

Savings of the Group may be treated as margin.

Repayment

as per the activity concerned.

The rate of interest will be as prescribed by the Bank from time to time.

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