The Reserve Bank of India (RBI) has increased the mortgage or guarantee-free loan limit for Self Help Groups (SHGs) under Deendayal Antyodaya Yojana (DAY) – National Rural Livelihoods Mission (NRLM) from Rs 10 lakh to Rs 20 lakh.
In the circular issued by RBI, it has been said that for loans up to Rs 10 lakh for self-help groups, no guarantee will be required and no margin will be charged from them. In addition, SHGs will not be asked to make any deposits while sanctioning loans. Similarly, for SHGs loans above Rs 10 lakh and up to Rs 20 lakh, no guarantee will be taken nor any claim on their savings bank account. will be written to.Also Read:How to check your LIC policy status online, know how
However, the entire loan will be eligible to come under Credit Guarantee Fund for Micro Units (CGFMU). No matter what the outstanding debt may be, or even if it has gone below Rs 10 lakh. In another decision, the Reserve Bank of India issued draft guidelines to further liberalize the regulatory framework for overseas investments.Also Read:Multiple Bank Account Customer Alert ! Be careful having multiple bank accounts! These big losses can happen including cutting money
Foreign Exchange Management (Transfer or Issuance of any Foreign Security), Regulation 2004 and Foreign Exchange Management (Acquisition and Transfer of Immovable Properties outside India) by a person resident in India ), Regulation-2015. The central bank said that it has been decided to harmonize the existing provisions governing investment operations abroad to further liberalize the regulatory framework and improve the ease of doing business. .Also Read: How can you buy railway general tickets from your mobile phone, know how
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
