WBGB SAMPURNA

DAY NRLM has made significant strides in empowering women and improving their livelihoods in rural India. By promoting women-led enterprises and self-help groups, the program contributes to poverty reduction and the overall development of rural communities. Today, a significant number of these enterprises have successfully advanced and are seeking credit exceeding Rs. 50,000.00 to fuel their expansion and development. However, they have surpassed the lending capacity of Self-Help Groups. As a result, ‘DAY NRLM - Master Circular’ issued by RBI vide RBI/2022-23/92 FIDD.GSSD.CO.BC. No.09/09.01.003/2022-23 dated 20 July 2022 recommends that, to empower female SHG members to transition into entrepreneurs, banks should contemplate providing loans to individual members of established and performing SHGs.

The sponsoring agency (NRLM/SRLM/DRDC) will identify woman micro-entrepreneurs from each Women Self-Help Group (SHG) based on eligibility criteria. They will then forward the applications along with KYC and supporting documents of the beneficiaries to the base branch where the Self-Help Group (SHG) holds its account.

For a SHG member to qualify as a borrower under the Micro Enterprise Lending from the Bank, they must adhere to the criteria outlined in the scheme

Any Income-Generating Purpose in Manufacturing, Service, And Trading/Business

• Minimum Age - 21 years at the time of loan application.
• Maximum Age - 60 years at the end of the loan tenure.

For a SHG member to qualify as a borrower under the Micro Enterprise Lending from the Bank, they must adhere to the criteria laid down by RBI

• Minimum: 0.75 Lakh
• Maximum : Rs 5 lakh

• Upto Rs 2 lakh : NIL
• Above Rs 2 lakh: 15%.

• Primary: Hypothecation of asset created out of Bank Finance
• Collateral: No collateral Security

As per Bank's pricing policy MCLR(Y) + 3%. However subject to change.

1% of Loan amount + GST

NIL

As per Bank's penal charges policy

• In case of Working Capital Limit, interest to be serviced as and when charged/due in the account. Principal is payable on demand.
• The loan together with interest shall be repaid within a maximum period of 60 months by EMI in case of term loan. Repayment will commence after one month of disbursement.

• GOI will extend support in form of reimbursement of actual credit guarantee fees incurred by banks/financial institutions for taking credit guarantee cover under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) or Credit Guarantee Fund for Micro Units (CGFMU) under NCGTC.
• Actual credit guarantee fees will be reimbursed to banks/ lending institutions for providing loans to individual women SHG members under DAY-NRLM for loans up to Rs. 5.00 Lakh for a maximum period of 5 years.