Interest subvention scheme on Credit to Women SHG during the year 2022-23 for all Public Sector Banks, Private Sector Banks and Small Finance Banks in all districts

• The scheme is limited to Women Self Help Groups under DAY-NRLM in rural areas only.
• For loans up to Rs 3 lakhs under the scheme, banks will extend credit at a concessional interest rate of 7% per annum.
• For loans above Rs 3 lakhs and up to Rs 5 lakh under the scheme, banks will extend credit at interest rate equivalent to their 1 year MCLR.Above 5 lakhs, for Grade A, Applicable ROI is MCLR +1.25% and for Grade B, Applicable ROI is MCLR +2%.
• Women SHGs promoted by other agencies and following the DAY-NRLM protocols will also be eligible for benefit of subvented loans subject to prior submission of the details of such SHGs on the DAY-NRLM SHG database.
• In order to avail the interest subvention on credit extended to the women SHGs, banks may ensure that the accounts of SHGs (both savings and loans) under DAY-NRLM are appropriately identified in their CBS with unique codes assigned by DAY-NRLM/SLRMs.
• All banks participating in the interest subvention scheme are required to upload information on the SHG savings and loan account, etc. on the respective Nodal Bank/ Nodal Agency portal as per the required technical specifications provided.