Reserve Bank of India’s head personnel Raghuram Rajan has announced to provide loans to women of self help groups. Here RBI’s head instructed to charge a rate of 7 percent per annum behind this loan and to get a subvention of interest rate under the scheme of Swarnajayanti Gram Swarojgar Yojana-Aajeevika.
The source also informed that this loan will be available to all the Public Sector banks of India. Now the Rural banks of India need to provide this loan in the mentioned interest rate. It is believed that , through this step, Government will be able to reduce the rate of poverty in India. This availability of women’s loan in such a low rate of interest will bring out more self work opportunities for Indian women.
This scheme will help to increase the Livelihood mission of the Indian government and will give a flow to this mission. It will also bring a sense of strong financial support to the poor, especially to women.RBI has informed that this low rate of interest in loan will cover the poor families of 150 districts of India.