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Differential Rate of Interest Scheme- Revision of the income limits

Government of India had formulated in March, 1972 a scheme for extending financial assistance at concessional rate of interest @ 4% to selected low income groups for productive endeavours initially by public sector banks and then by private sector banks also .

The scheme known as Differential Rate of Interest Scheme (DRI) is now being implemented by all Scheduled Commercial Banks.

Reserve Bank of India on 10th April 2008 has notified that borrowers with annual family income of Rs.18000 in rural areas and Rs.24000 in urban areas will now be eligible to avail of the facility as against the earlier annual income criteria of Rs.6400 in rural areas and Rs.7200 in urban areas, fixed by the Government of India in 1986.

The other terms and conditions of the DRI scheme remain unchanged. The target for lending under the DRI scheme will continue to be 1 per cent of the previous years’ total advances as hitherto

Revision of Differential Rate of Interest Scheme in 2007 ...Click here


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