The RBI has issued guidelines to banks will provide funds to women self help groups, SHGs, in rural areas at 7 per cent under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) in the current fiscal (2017-18).
The central bank has revised guidelines on interest subvention scheme under DAY-NRLM, as received from the Ministry of Rural Development for implementation by 21 public sector banks and 19 private banks.
Must Do Takeaways from the Above News:
- National Rural Livelihood Mission (NRLM) is a poverty alleviation project implemented by Ministry of Rural Development, Government of India.
- NRLM is focused on promoting self-employment and organization of rural poor.
- Deen Dayal Antyodaya Yojana or DAY is a Government of India scheme for the helping the poor by providing skill training.
Source- The Times of India