Pavala Vaddi :
Interest on subsidy :
scheme was started during the year 2004-05 with an objective of providing interest subsidy on the loans taken by the Self Help Groups.
The scheme is applicable to all loans extended by banks on or after 1st July 2004, under SHG Bank Linkage Programme.
The incentive will be in the form of reimbursement of interest whatever is above 3% interest irrespective of bank interest rates.
The subsidy shall not include penal interest, liquidated damages etc., paid to the bank.
An amount of Rs. 1000.00 lakhs is allocated in the budget and the amount has been released during the current year.
During the year 2005- 06, an amount of Rs. 8900.00 lakhs is being proposed towards interest subsidy on the loans taken by SHGs under SHG Linkage programme.
The scheme is applicable to all loans extended by banks on or after 1st July 2004, under SHG Bank Linkage Programme.
The incentive will be in the form of reimbursement of interest whatever is above 3% interest irrespective of bank interest rates.
The subsidy shall not include penal interest, liquidated damages etc., paid to the bank.
An amount of Rs. 1000.00 lakhs is allocated in the budget and the amount has been released during the current year.
During the year 2005- 06, an amount of Rs. 8900.00 lakhs is being proposed towards interest subsidy on the loans taken by SHGs under SHG Linkage programme.
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