Home › Circulars › RBI/2008-09/515

SRMS Scheme Extended to Sept 2009: Banks Must Disburse Loans

Current · Source: Reserve Bank of India · RBI/2008-09/515 · issued 30 Jun 2009 · ~1 min read
Quick answerRBI extends the Self Employment Scheme for Rehabilitation of Manual Scavengers (SRMS) deadline to September 30, 2009. Banks must disburse loans to all eligible applicants by this date, following existing guidelines.
The rule, in the simplest words
How it plays out — a real example

A payments & clearing officer in Indore checks her list of eligible manual scavengers and their dependents. She sees the new deadline of September 30, 2009, and quickly calls each person to come in with their documents, making sure all loans are given out on time.

What changed

The Government of India decided to continue the SRMS scheme beyond March 31, 2009. RBI now directs banks to complete loan disbursements under the scheme by September 30, 2009, instead of the earlier March 2009 deadline.

What it means for you

Banks have a clear three-month window to process and disburse loans to eligible manual scavengers and their dependents. This extension ensures continued rehabilitation efforts without disruption, but requires banks to prioritize time-bound disbursement to meet the new deadline.

What you must do

Who it affects

All Indian Public Sector Banks (excluding RRBs), Manual scavengers and their dependents eligible under SRMS, Implementing agencies of the SRMS scheme

❓ Common questions

What is the new deadline for SRMS loan disbursement?

The deadline is extended to September 30, 2009, from the earlier March 31, 2009.

Which banks are covered by this circular?

All Indian Public Sector Banks are covered, excluding Regional Rural Banks (RRBs).

Do we need to follow new guidelines for SRMS loans?

No, banks must follow the existing guidelines issued by RBI in earlier circulars.

📜 Read the original circular — full text as issued by RBI
RBI/2008-09/515 RPCD.SP.BC.No.117 /09.03.01/2008-09 June 30, 2009 The Chairman /Managing Directors All Indian Public Sector Banks (Excluding RRBs) Dear Sir, Continuation of Self Employment Scheme for Rehabilitation of Manual Scavengers(SRMS) beyond March 2009 Please refer to our Circular RPCD.SP.BC.No 57/09.03.01/2007-08 dated April 15, 2008 advising the banks about the new and improved scheme approved by the government of India named, “Self Employment Scheme for Rehabilitation of Manual Scavengers” (SRMS) aimed at rehabilitating the remaining scavengers and their dependents by March 2009. As the Government of India, Ministry of Social Justice and Empowerment, has decided to continue the scheme beyond March 31, 2009, the implementing agencies have been requested to complete implementation of the scheme by September 30, 2009. Banks are, therefore, advised to disburse loan to all eligible applicants under SRMS by September 30, 2009 in a time bound manner as per the existing guidelines issued by us in this regard. Please acknowledge receipt. Yours faithfully, (Lily Vadera) General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2008-09/515 · issued 30 Jun 2009. The plain-English explanation above is BankPulse’s own independent summary.
🧰 Tools — save, print, templates & related
Most relevant forBranch Manager — PSU / Co-op / RRB (sanctioning powers)Loan Operations / CPC / DisbursementRM — Loans (Assets)Branch Manager — Private Bank / SFBBranch Sales / CASA Acquisition OfficerCompliance Team
🛠 Banker’s toolkit — checklists & reply templates →
Related circulars · Financial Inclusion & Priority Sector
Small Account Rules for Co-operative Banks – RBI Circular 2011RRB CRR Hiked to 9% from Aug 30, 2008CRR Hiked for RRBs by 50 bps in Two StagesRRBs: PMLA Compliance – CTR, STR, and KYC Software MandateRRB CRR Hiked to 8.25% from May 24, 2008
Browse all departments →
Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All Indian Public Sector Banks (excluding RRBs), Manual scavengers and their dependents eligible under SRMS, Implementing agencies of the SRMS scheme), your first concrete step on “SRMS Scheme Extended to Sept 2009: Banks Must Disburse Loans” is: “Identify all eligible applicants under SRMS and expedite loan processing.” (RBI issued this 30 Jun 2009).

  1. Circular: RBI/2008-09/515 -- SRMS Scheme Extended to Sept 2009: Banks Must Disburse Loans
  2. Issued: 30 Jun 2009
  3. Action required: Identify all eligible applicants under SRMS and expedite loan processing.
  4. Action required: Ensure loan disbursement to all eligible applicants by September 30, 2009.
  5. Action required: Follow existing RBI guidelines for SRMS loans without deviation.
  6. Action required: Acknowledge receipt of this circular to the issuing office.
  7. Owner: ____________ Target date: ____________
  8. Board/committee approval needed? Y / N
  9. Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.

💬 Banker Discussion

Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.

Loading comments…
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly).
Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=5058&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
Public beta — plain-English informational summaries. Always verify against the official RBI source (circular number cited on every page) before making compliance, credit, treasury, audit, or operational decisions. · Join our WhatsApp channel ↗
—