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Meghalaya Rural Bank

NSTFDC For National Rural Livelihood Mission (NRLM) - AJEEVIKA

  • The purpose of the NRLM is to promote poverty reduction by building strong institutions of the poor, particularly women, and enabling them to access a range of financial and livelihood services.
  • Loans obtained through NRLM can be used for meeting social needs, high-cost debt swapping, or financing any viable common activity by the Self Help Group (SHG).
  • Formation of Women SHG under NRLM consists of 10-15 persons.
  • SHGs should be in active existence for at least the last 6 months as per the Books of Accounts of the SHG.
  • SHGs should follow 'PANCHASUTRAS': Regular Meetings, Regular Savings, Regular Inter-loaning, Timely Repayment, and up-to-date books of accounts.
  • SHGs should be qualified as per grading norms fixed by NABARD.
  • 6% for Category I of 150 districts: W.K. Hills (for Women SHG).
  • Normal rate for Category II Districts.
  • The loan amount is determined based on multiple doses of assistance under NRLM, which is based on corpus/quantum of Savings + Fund Mobilised.
  • The first dose can range from 4 to 8 times of the proposed corpus during the year or Rs 50,000, whichever is higher.
  • The second dose can range from 5 to 10 times of existing + proposed savings during the next 12 months or Rs 1 lakh, whichever is higher.
  • The third dose is a minimum of Rs 2 lakh based on the Micro Plan Credit prepared by the SHG.
  • From the fourth dose onwards, the loan can vary between Rs 5 lakh to Rs 10 lakh for the fourth dose or higher in subsequent doses
  • SHGs must meet certain criteria such as active existence, adherence to 'PANCHASUTRAS', and qualification as per grading norms set by NABARD.

No collateral security is required for loans up to Rs 10 lakh.

  • Repayment terms vary depending on the dose of the loan:
  • 1st dose: 6-12 instalments.
  • 2nd dose: 12-24 months.
  • 3rd dose: 2-5 years on an instalment basis.
  • 4th dose onwards: Within 3-6 years in suitable instalments.
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