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NATIONAL RURAL LIVELIHOOD MISSION(NRLM)

SALIENT FEATURES

  • Flagship programme of the Govt of India for poverty reduction through development of institution for the poor, particularly women and provide them with sustainable livelihood means
  • Community based development of the poor; their financial inclusion and strengthening of their livelihood means through extensive use of human and financial resources
  • WSHG based on mutual affinity is the building block of NRLM
  • Implementation in Mission Mode
  • Universal Social Mobilization
  • participatory identification of poor (PIP): not based on BPL list
  • Development of Community based institutions
  • Strengthening of SHG's & SHG Federations
  • Training; Capacity Building & Skills Development
  • Community investment Fund (CIF) in addition to Revoking Fund
  • Interest Subvention in place of Capital subsidy
  • Universal Financial Inclusion
  • Hand holding support through Federations
  • During initial 2 years amount of loan will be corpus linked, whereas after 2 years of existence it will be Micro Credit Plan linked

PURPOSE

  • Amount of Loan can be utilized by the Group members for their personal/ social needs/ debt swapping/ house repair/ construction toilet, construction/sustainable livelihood or collective income generating activities
  • While the amount of loan during the first two doses of credit may be utilized for personal/social needs or debt swapping, the later 2 doses will be utilized strictly for income generating activities
  • The objectivity is financial independence of the group member through repeated doses of credit

ELIGIBILITY

  • Mutual affirnity based WSHG with min 5 members active for 6 month since formation
  • SHG must have been in active existence for 6 month
  • Mixed gender SHGs permissible incase of Physical Challenged/ Transgender
  • SHG must follow panchshutras: Reguar- Meeting / Saving/Inter lending/ Repayment & Up to Date Record Keeping
  • Must attain Grade I as prescribed by grading norms of NABARD
  • Old & Inactive SHGs eligible provided they have been active for last 3 months
  • Defaulters not to be financed under NRLM

LOAN AMOUNT

    CCL:- maximum loan of ₹ 6 lakhs to each eligible SHG for a period of 3 Years with a yearly drawing power .The drawing power may be enhanced annually based on the repayment performance of the SHG. The drawing power may be calculated as follows

  • 1st Dose: 6 times of the existing Corpus OR ₹ 100,000 (whichever is greater)
  • 2nd Dose: 8 times of the Corpus at the time of review or enhancement OR ₹ 2 lakhs (whichever is greater)
  • 3rd Dose: Minimum ₹ 6 lakhs based on the Micro Credit plan prepared by the SHG and valued by the SHG Federation/ Hand holding Agency and the previous credit history
  • 4th Dose: Above ₹ 6 lakhs based on the Micro Credit plan prepared by the SHG and valued by the SHG Federation/ Hand holding Agency and the previous credit history
  • TL:- Incase of Term Loan, banks are advised to sanction loan amount in doses as mentioned below

  • 1st Dose: 6 times of the existing Corpus OR ₹ 100,000 (whichever is greater)
  • 2nd Dose: 8 times of the Corpus at the time of review or enhancement OR ₹ 2 lakhs (whichever is greater)
  • 3rd Dose: Minimum ₹ 6 lakhs based on the Micro Credit plan prepared by the SHG and valued by the SHG Federation/ Hand holding Agency and the previous credit history
  • 4th Dose: Above ₹ 6 lakhs based on the Micro Credit plan prepared by the SHG and valued by the SHG Federation/ Hand holding Agency and the previous credit history
  • However, per borrower indebtedness normally should NOT exceed ₹ 1 lakhs

    Resolving Fund SHG in active existence for 3 to 6 month following Panchsutras which have not received any RF in the past are eligible to received RF between 10,000-15,000 at the First Dose

  • Corpus includes Total Saving + RF + Any Grants
  • SB A/c mandatory prior to Credit Linkage
  • Incase of irregular repayment at any stage, next dose will NOT be disbursed
  • Branch will ensure that the amount borrowed in second & onwards doses is used for incoming generating activities
  • 2nd Dose onwards every Cash Credit disbursed will be in the form of reducing limit

MARGIN

  • Up to 10 Lakhs - NIL; thereafter scheme /activity wise

INTEREST RATE

    As prescribed by the Bank. Interest will be applied on monthly compounding basis

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Largest Branch Network in
Mizoram.
Mizoram Rural Bank
Head Office : MINECO,Khatla
Aizawl - 796001
Mizoram
Nodal Officer for Customer Grievance Redressal
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