The RBI has issued guidelines to banks will provide funds to women self help groups, SHGs, in rural areas at.....under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) in the current fiscal (2017-18).

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The RBI has issued guidelines to banks will provide funds to women self help groups, SHGs, in rural areas at____under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) in the current fiscal (2017-18).

A	6 percent
B	5 percent
C	9 percent
D	7 percent

Explanation:

Detailed explanation-1: -(i) SHGs should be in active existence for at least 6 months as per their books of accounts (and not from the date of opening of S/B account). (ii) SHGs should be practicing ‘Panchasutras’ i.e., regular meetings, regular savings, regular inter-loaning, timely repayment and up-to-date books of accounts.

Detailed explanation-2: -2.2 Women SHGs under DAY-NRLM consist of 10-20 members. In case of special SHGs i.e. groups in the difficult areas, groups with disabled persons, and groups formed in remote tribal areas, this number may be a minimum of 5 members.

Detailed explanation-3: -2.2 DAY-NRLM promotes affinity-based women Self Help Groups (SHGs). 2.3 Only for groups to be formed with Persons with disabilities, and other special categories like elder, transgender, DAY-NRLM will have both men and women in the Self-Help Groups.

Detailed explanation-4: -Revolving Fund (RF): NRLM provides a Revolving Fund (RF) support to SHGs in existence for a minimum period of 3/6 months and follow the ‘Panchasutra’ – regular meetings, regular savings, regular internal lending, regular recoveries and maintenance of proper books of accounts.

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