DEENDAYAL ANTYODAYA YOJANA – NATIONAL RURAL LIVELIHOODS MISSION (DAY-NRLM):

1. The DAY-NRLM Is A Flagship Program Of Govt Of Lndia For Promoting Poverty Reduction Through Building Strong Institutions Of Poor Particularly Women.

2. DAY-NRLM Promotes Affinity Based Women Self Help Groups (Shgs).

3. The Loans May Be Used For Meeting Social Needs,High Cost Debt Swapping, Construction Or Repair Of House, Construction Of Toilets And Taking-Up Sustainable Livelihoods By The Individual Members With In SHG Or To Finance Any Viable Common Activity Started By The Shgs.

ELIGIBILITY:

· Group With Active Existence For At Least Since The Last 6 Months As Per The Books Of SHG And Not From The Date Of Opening SB Account.

· Shgs Practicing Panchasutras

· Grading Norms As Fixed By NABARD

· Dis-Integrated Shgs Revived And Continue To Be Active For A Minimum Period Of 3 Months.

LOAN LIMIT:

Cash Credit Limit: Minimum Of Rs.6 Lakhs For 3 Years With Drawing Power As The Following Schedule:

1. 1st Year DP: 6 Times To The Existing Corpus Or Minimum Of Rs.1 Lakh Whichever Is Higher

2. 2nd Year DP: 8 Times Of The Corpus At The Time Review/ Enhancement Or Minimum Of Rs.2 Lakh, Whichever Is Higher

3. 3rd Year DP: Min .Of Rs. 6 Lakh Based On Micro Credit Plan Prepared By Shgs And Appraised By The Federations I Support Agency And The Previous Credit History

4. 4th Year DP: Above 6 Lakh Based On Micro Credit Plan Prepared By SHG And Appraised By The Federations I Support Agency And The Previous Credit History.

Term Loan:

1. First Dose: 6 Times To The Existing Corpus Or Minimum 1 Lakh Whichever Is Higher

2. 2nd Dose: 8 Times Of The Existing Corpus Or Minimum Of 2 Lakh, Whichever Is Higher

3. 3rd Dose: Min. Of 6 Lakh Based On Micro Credit Plan Prepared By Shgs And Appraised By The Federations I Support Agency And The Previous Credit History

4. 4th Dose: Above Rs. 6 Lakh Based On Micro Credit Plan Prepared By Shgs And Appraised By The Federations I Port Agency And The Previous Credit History.

Repayment Schedule:

Term Loan:

1. First Dose Of Loan My Be Repaid In 24 To 36months In Monthly I Quarterly Installments

2. Second Dose Of Loan May Be Repaid In 36 To 48 Months In Monthly I Quarterly Installments

3. Third Dose Of Loan May Be Repaid In 48 To 60 Months Based On The Cash Flow In Monthly/ Quarterly Installments

4. The Loan From Fourth Dose Onwards May Be Repaid Between 60 To 84 Months Based On The Cash Flow In Monthly I Quarterly I

Security And Margin:

· No Collateral & No Margin Up To Rs. 1O Lakhs

· No Lien Should Be Marked Against Savings Bank Account Of Shgs

· No Deposit Should Be Insisted Upon While Sanctioning LOANS.

Interest Subvention Scheme:

Interest Subvention Scheme On Credit To Women Shgs In Rural Areas Would Be Available In Following Two Ways Under DAY-NRLM Scheme:

1. Interest Subvention Scheme On Credit To Women Shgs In 250 Districts:

· All Women Shgs Would Be Eligible For Interest Subvention On Credit Up To Rs.3.00 Lakh At Subverted Rate Of 7% Per Annum. Shgs Availing Capital Subsidy Under SGSY In Their Existing Credit Outstanding Would Not Be Eligible For Benefit Under The Scheme.

· The Commercial Banks (Public Sector, Private Sector And Small Finance Banks) Would Lend To All The Women Shgs In Rural Areas At The Rate Of 7% Up To An Aggregated Loan Amount Of 300,000/- In The 250 Districts. For The Women Shgs In These Districts An Additional Interest Subvention Of 3% Is Also Available On Prompt Repayment, Reducing The Effective Rate Of Interest To 4%.

2. Interest Subvention Scheme For Category II Districts (Other Than 250 Districts).

· In The Category II Districts, Banks May Charge The Shgs As Per Their Respective Lending Norms And The Difference Between The Lending Rates And 7% Subject To A Maximum Limit Of 5.5% Would Be Subverted Directly In The Loan Accounts Of The Shgs By The Srlms. The Funding For This Subvention Would Be Provided To The State- Rural Livelihoods Missions (Srlms) From The Allocation For Day- Nrlm.