Current Affairs - Banking - Discussion

Reserve Bank of India (RBI) issued revised guidelines on Interest Subvention Scheme under Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM), stating that banks will provide funds to women Self Help Groups (SHGs) in rural areas at 7 per cent under the DAY-NRLM in current fiscal, 2017-18. These guidelines will be implemented by 21 public sector banks and 19 private banks. Women SHGs availing credit up to Rs. 3 lakh rupees will be eligible for this interest subvention scheme.