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Interest subsidy on loans taken by SHGs

Published: 10th August 2013 11:07 AM  |   Last Updated: 10th August 2013 11:07 AM   |  A+A-

In a bid to woo members of women self help groups (SHGs) ahead of the next general elections, the State Government announced interest subsidy on loan taken by self help groups for micro-economic activities.

The Government will make an interest subvention of two per cent for SHGs operating in integrated action plant (IAP) districts and three per cent in non-IAP districts.

An additional subvention of two per cent will be provided to those groups which repay their loans on time, said a release from the office of the Chief Minister.

The interest subsidy will be available on loan upto three lakh rupees.

This will benefit about one lakh SHGs.

Presently, credits are given to self help groups at four per cent interest rate in the integrated action plant  districts while seven per cent is charged in non-IAP districts.

The Government will bear the interest subsidy on loan amounting to Rs 1,000 crore credited to self help groups in the State, official sources said.

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