Date:29/09/2004 URL: http://www.thehindubusinessline.com/2004/09/29/stories/2004092902080600.htm

Back Rate slab fixed for SGSY loans

Our Bureau

New Delhi , Sept. 28

THE Government has asked the Reserve Bank of India and Nabard to ensure that the loans extended to self-help groups under Swarnjayanti Gram Swarozgar Yojana (SGSY) is made available within a slab of 4 to 6 per cent interest.

"We are facing many problems including the bank credits to finance the self-help groups in SGSY," stated Dr Raghuvansh Prasad Singh, Minister for Rural Development. He said the banks will have to adopt a pro-active approach to make these programmes a success, said an official statement.

The Minister for Rural Development also impressed upon the senior executives of the banks, RBI and Nabard, to ensure that the loans extended to "swarozgaris" under SGSY should be made available within a slab of 4 to 6 per cent interest.