DIFFERENTIAL RATE OF INTEREST LOANS (DRI LOANS)
|Purpose / Objective||To lend at a concessional rate of interest, i.e. @ 4% p.a. for productive / self employment ventures.|
Scheduled Cases/Scheduled Tribes and others engaged on a very modest
scale in Agriculture and / or allied agricultural activities.|
* People who themselves collect or do elementary processing of forest products and people who themselves collect fodder in difficult areas and sell them to farmers and traders.
* People physically engaged on a modest scale in the fields of cottage and rural industries and vocations - e.g.: cutting cloth and sewing garments, making reasonably cheap eatables, home delivery service of articles and commodities of daily use, running wayside tea stalls, plying of manual rickshaws and cycle rickshaws, repairing of shoes sandals mainly by hand, basket making by hand etc.
* Physically handicapped persons pursuing gainful occupation.
|Eligibility||* Family income not exceeding Rs.18, 000/- p.a. in rural areas and Rs.24, 000/- p.a. urban / semi urban areas.|
* Land holding does not exceed 1 acre irrigated or 2.5 acres in case of un-irrigated land.
* SCs/STs are eligible for loan irrespective of their land holding, provided they satisfy other eligibility criteria.
* The beneficiary largely works on his own and with such help as other members of his family.
* The beneficiary should not have another source of finance while DRI loan exists.
|Amount of Loan||* Maximum of Rs.15,000/- by way of terms loan and / or working capital.|
* The maximum limit for housing loans under the scheme is Rs.20,000/-
* In the case of physically handicapped persons, a sum of Rs.5,000/- for purchase of aids, appliances and equipments may be granted, apart from the loan amount of Rs.15,000/-.
|DRI through Institutions||1. Orphanages and Women’s homes.|
2. Institutions for physically handicapped.
3. State Corporations for SC / ST.
4. State Minority Finance / Development Corporation.
|Target||* 1% of the total advances as at the end of the previous year.|
* 40% of the bank credit under the scheme should flow to the eligible borrowers belonging to Scheduled Castes and Scheduled Tribes.
* Not less than 2/3rd of the advances under the scheme are to be routed through Rural and Semi urban branches.
|Repayment||* Maximum of 5 years.|
* In case of housing loans, the repayment period is extendable to 7 years in hardship cases.
* Installments to be fixed monthly or otherwise depending on income generation.
|Security||Hypothecation of assets purchased out of loan.|
|* BPLR and BASE RATE - Available in Home Page|
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