RBI hikes collateral-free loans to Self Help Groups
The Reserve Bank of India has increased the limit for collateral-free loans to Self-Help Groups (SHG) under the DAY-NRLM (Deendayal Antyodaya Yojana – National Rural Livelihoods Mission) from Rs. 10 lakhs to Rs. 20 Lakhs.
- The DAY-NRLM is the flagship program, was launched by the Indian Govt on March 29th, 2016.
- it aims to promote poverty reduction through building strong institutions for the poor, particularly women.
- DAY-NRLM program enables institutions to access a range of financial services and livelihoods.
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