Women SHGs to get bank loans at 7 per cent interest
7 May 2013 5:46 PM IST
Women’s self help groups in the country would be provided bank loans at an interest rate of seven percent from now on, rural development minister Jairam Ramesh said on Monday.
The scheme would be initially started as a pilot project in 150 districts and in rest of the states, 75 per cent of the cost would be borne by the central government and 25 per cent by the states.
‘Over the next five years, we will move to a situation where the entire cost will be borne by the centre,’ Ramesh told reporters here.
The total cost of the project which was approved by the cabinet on 1 May, would be Rs1,650 crore for 2013-14 out of which Rs1,400 crore would be borne by the central government and Rs250 crore by the states.
The cabinet also decided to do away with the BPL (below poverty line) category in the National Rural Livelihood Mission of which the women;s SHG scheme is a part.
The scheme would be initially started as a pilot project in 150 districts and in rest of the states, 75 per cent of the cost would be borne by the central government and 25 per cent by the states.
‘Over the next five years, we will move to a situation where the entire cost will be borne by the centre,’ Ramesh told reporters here.
The total cost of the project which was approved by the cabinet on 1 May, would be Rs1,650 crore for 2013-14 out of which Rs1,400 crore would be borne by the central government and Rs250 crore by the states.
The cabinet also decided to do away with the BPL (below poverty line) category in the National Rural Livelihood Mission of which the women;s SHG scheme is a part.
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