The Tripura government has decided to reduce the interest rate on loans for SHGs. Eyeing on creating a self-reliant Tripura and empower women, the SHGs from now onwards may take loans at 6 percent interest rate from cluster level federations instead of 9 percent interest rate.
Moreover, the SHGs may give loans at 7 percent interest rate instead of 12 percent to their members. Members of the SHGs may take loans from rural organisations at 4 percent interest rate and members may take loans from SHGs at 5 percent interest rate.
Tripura is the first state in the country to offer loans to the SHGs at such low rates.
The state government has welcomed the women members of the SHGs to improve their socio-
economic conditions and quality of living of their families through income-based works.
Tripura Rural Livelihood Mission (TRLM) Additional CEO SC Sinha has said that through this ground-breaking decision loans can be taken in easy instalments by the women SHGs rural organisations and cluster level federation can financially strengthen their economic base by taking advantages of such opportunity.
Under the TRLM, a total of 29, 430 women SHG members have taken loans for different kinds of income-based works. They take these loans from their group funds, rural organisations, cluster level federation and banks. To get loans at easy instalments is a significant facility for the SHG members.
About Rs 311 crore has been granted for rural organisations of SHGs and cluster level federations. So far, there have been several exchanges of loans between the SHG and their members. Apart from this, the women SHGs were given loans of about Rs 295 crore under the TRLM.