The government on Monday reached
out to rural women by rolling out a R1,400- Cr interest subvention on loans
taken by Self Help Groups working for their empowerment. Interest subvention for
the loans taken by women Self Help Groups (SHGs) is a significant initiative
under the Centre’s ambitious programme National Rural Livelihoods Mission
(NRLM). Rural development minister Jairam Ramesh said that it is applicable for
loans availed by women SHGs from April 1, 2013. According to the minister, from
Monday onwards, all banks/will lend to women SHGs at upfront 7% interest (for
loans upto R3 lakhs) in 150 select backward districts, most of which are
affected by Naxal menace. These SHGs will get a further 3% subvention on prompt
repayment, thus the effective charge on all such loans will be 4% only.
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