Loans & Advances

NRLM is a flagship programme of GOI for promoting poverty reduction through building strong institutions of the poor, particularly women and enabling them to access a range of financial & livelihood services. The scheme was launched w.e.f. April 1, 2013 by restructuring & replacing SGSY.

Formation of Women SHG 

• Formation of Women SHG under NRLM consists of 10-15 persons
• Opening of Savings Bank account of SHGs

Eligibility criteria for SHG to avail loan:

• SHG should be in active existence for at least since last 6 months as per Books of Accounts of SHG
• SHG should follow ‘PANCHASUTRAS’ – Regular Meetings, Regular Savings, Regular Inter-loaning, Timely Repayment & up-to-date books of accounts.
• SHG should be qualified as per grading Norms fixed by NABARD

Loan Amount: Emphasis is laid on the multiple doses of assistance under NRLM based on corpus/quantum of Savings + Fund Mobilised

• 1st dose: 4 to 8 times of proposed corpus during the year or Rs 50000 whichever is higher
• 2nd dose: 5 to 10 times of existing + proposed savings during the next 12 months or Rs 1 lakh, whichever is higher
• 3rd dose: Minimum of Rs 2 lakh based on Micro Plan Credit prepared by SHG
• 4th dose onwards: Loan vary between Rs 5 lakh to Rs 10 lakh for 4th dose or higher in subsequent doses.

Purpose: Loan may be used for meeting social needs, high cost debt swapping, or to finance any viable common activity by the SHG

Margin: No margin to loan limit of Rs 10 lakh

Security: No collateral security for loan up to Rs 10 lakh

Rate of Interest

• 6% for Category I of 150 districts: W.K. Hills (for Women SHG)
• Normal rate for Category II Districts

Loan type: Either Term Loan of Cash Credit or both

Repayment:

• 1st dose of loan will be repaid in 6-12 instalments
• 2nd dose of loan will be repaid in 12-24 months
• 3rd dose of loan will be repaid in 2-5 years on instalment basis
• 4th dose onwards: Loan will be repaid within 3-6 years in suitable instalments.

Related Websites

Meghalaya State Rural Livelihoods Society (MSRLS)

Aajeevika-National Rural Livelihood Mission (NRLM):: Ministry of Rural Development (MoRD), GoI 

For Individual Applicant

Eligible Criteria: STs with annual family income up to Double the Poverty Line

• Rural area: DPL income up to Rs 98000/family
• Urban area: DPL income up to Rs 120000/family

Purpose: For productive purposes only

Type of Loan: Term loan only

Margin:

• For loan upto Rs 1.00 lakh: NIL
• Above Rs 1.00 & upto Rs 5 lakh: Min. 10%

Category of loan:

• Type I : Up to Rs 5 lakh
• Type II : Above Rs 5 lakh & up to Rs 10 lakh

Max. Repayment period: 5 Years

Rate of Interest:

• For loan up to Rs 5 lakh : 6.00% p.a.
• Above Rs 5 lakh & upto Rs 10 lakh: 8% p.a.

Requirement: ST Certificates and Family income certificate (affidavit/self-declaration)

Micro Credit to SHGs (Group & Members)

Eligible Criteria

• Existing PROFIT making SHGs
• All members of SHG should belong to ST communities
• Each member of SHG should be below DPL income

Purpose: Any productive/income generating activity

Margin:

• For loan up to Rs 1.00 lakh : NIL
• Above Rs 1 lakh & up to Rs 5 lakh : Min. 10%

Type of Loan: Term loan only

• Maximum loan per SHG: Rs 5.00 lakh
• Maximum loan per SHG member: Rs 35000/-

Repayment Period: Up to 5 years depending in activity and cash flow of the unit

Rate of Interest: 6.00% p.a.

Requirement: ST Certificate and Family Income Certificate (by Affidavit or Self-declaration)