Sunday, December 15, 2013

Provide loans to women’s self help groups at 7%: RBI

The Reserve Bank of India (RBI) has directed public sector banks to provide credit to women
self help groups at a rate of 7% per annum so as to get the benefit of interest subvention scheme
under the Swarnajayanti Gram Swarozgar Yojana Aajeevika (SGSY) scheme.
RBI has also said that Public Sector Banks (PSBs) will be subverted to the extent of difference between the Weighted Average Interest charged and 7% subject to the maximum limit of 5.5%,
for the FY-2014.

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