RBI asks banks to provide loans to women self-help groups in rural areas at 7% per annum

ProMASS News Bureau: Aug 26, 2016: RBI has asked banks to provide loans to women self-help groups in rural areas at 7 per cent per annum, as per the government’s revised guidelines for the current financial year. The Reserve Bank said in a notification that all women self-help groups (SHGs) will be eligible for interest subvention on credit up to three lakh rupees at 7 per cent per annum under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission in 250 districts. It said, SHGs availing capital subsidy under the Swarnajayanti Gram Swarozgar Yojana in their existing credit outstanding will not be eligible for benefit under this scheme.