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WBSSP Interest Subvention norms for NRLM & NULM loans FROM WBSCL (UNDER SHG & SE DEPT, GOVERNMENT OF WEST BENGAL)

A. Applicable to all Women SHGs

1. Category – I [ 8 identified Districts Viz. Puruliya, Bankura, Birbhum, Purba Medinipur , Paschim Medinipur, South 24-Parganas, Alipurduar & Coochbehar ] :

 o Banks sanction loans to SHGs @ 7 % p.a. interest rate and claims the interest subvention through Canara Bank (Nodal Bank under NRLM) from GOI @ (Lending rate – 7) % subject to maximum 5.5%.

 o Banks claim additional interest subvention from GOI @ 3% for those SHGs who repay loan promptly

   Banks further submit additional subsidy claim of 2% to WBSCL (under SGH & SE Dept., Govt. of WB) so that the effective ROI comes down to 2% p.a.

   WBSCL releases subsidy directly to SHG Account under DBT.

2. Category – II [ Rest 15 Districts ] :

 o Banks sanction loan to SHGs as per their current lending rate to all SHG applicants

 o GOI provides interest subvention to the Banks through Canara Bank (Nodal Bank) @ (Lending rate – 7) % subject to maximum 5.5%

 o Banks claim this amount through WBSRLM portal

   Banks further submit additional subsidy claim of 5% to WBSCL (under SGH & SE Dept., Govt. of WB) so that the effective ROI comes down to 2% p.a.

   WBSCL releases subsidy directly to SHG Account under DBT.

B. Applicable to Male or Mixed Gender SHGs COVERING ALL DISTRICTS

 o Banks sanction loan to SHGs as per their current lending rate to all type SHGs

 o No subvention from GOI & Subsidy is provided by GoWB only

   Banks submit subsidy claim @ 9% to WBSCL for those who repay loan promptly

   WBSCL releases subsidy directly to SHG Account under DBT.

NULM:

 o Enterprises financed under DAY-NULM by the Banks are eligible for interest subvention to avail credit up to ` 2 Lakhs for individuals and ` 10 Lakhs for SHGs / Group loans @ 7% p.a.

 o Banks lend as per their prevailing rate of interest

 o The beneficiaries are sub vented to the extent of difference of rate of interest charged by Bank and 7% from SUDA.

 o Women SHGs are provided an additional 3% subvention provided their repayments are prompt.

   SUDA submit additional subsidy claim of 2 or 5 % as the case may be to WBSCL for Women SHGs who repay loan promptly directly to SHG account under DBT.