Ministry of Rural Development launched the overdraft facility of Rs. 5,000 to verified women SHG members under DAY-NRLM, on 18th December, 2021.
- All Public Sector Banks and State Rural Livelihoods Missions participated in the launching programme.
- Union Finance Minister, during her Budget Speech of 2019-20, had announced to allow overdraft facility of Rs. 5,000/- to verified SHG members.
- Indian Banks Association, Mumbai has advised all Banks on 26th November, 2021 to implement this scheme .
About DAY-NRLM
- Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), a flagship programme of Ministry of Rural Development aims at eliminating rural poverty through mobilizing poor women into community institutions like Self Help Groups (SHGs) and strengthening their livelihood base by accessing necessary credit from banks.
- The Mission was launched in June, 2011 and as on 15th December, 2021, 8.04 crore rural women have been mobilized into 73.5 Lakh Self Help Groups and it is envisaged that by 2024, about 10 crore women would be mobilized into Self Help Groups.
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