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NRLM Interest Subvention Scheme for SHG Credit

Current · Source: Reserve Bank of India · RBI/2013-14/373 · issued 19 Nov 2013 · ~1 min read
Quick answerRBI directs public sector banks to follow detailed guidelines for the Interest Subvention Scheme under NRLM for SHG credit in 2013-14, as per Ministry of Rural Development.
The rule, in the simplest words
How it plays out — a real example

An agri & priority-sector lending officer in Indore must review and implement the detailed guidelines for the Interest Subvention Scheme under NRLM for SHG credit to ensure that rural SHGs receive subsidised credit, helping to alleviate poverty in the region.

What changed

RBI issued detailed guidelines for operationalising the Interest Subvention Scheme under the restructured National Rural Livelihoods Mission (NRLM) for Self-Help Group (SHG) credit during 2013-14. This follows the earlier circular on restructuring SGSY into NRLM.

What it means for you

Banks must implement the interest subvention scheme for SHG loans under NRLM as per the annexed guidelines from the Ministry of Rural Development. This ensures subsidised credit reaches rural SHGs, aligning with the government's poverty alleviation mission.

What you must do

Who it affects

All Public Sector Banks, Regional Rural Banks (via NABARD), Cooperative Banks (via NABARD)

❓ Common questions

What is the purpose of this circular?

It provides detailed guidelines for banks to operationalise the Interest Subvention Scheme under NRLM for SHG credit during 2013-14, as received from the Ministry of Rural Development.

Who will issue guidelines for RRBs and cooperative banks?

NABARD will issue separate guidelines to Regional Rural Banks and Cooperative Banks regarding this scheme.

📜 Read the original circular — full text as issued by RBI
RBI/2013-14/373 RPCD. GSSD.CO.BC.No 57/09.01.03/2013-14 November 19, 2013 The Chairman/ Managing Director All Public Sector Banks Dear Sir, Restructuring of SGSY as National Rural Livelihoods Mission (NRLM) – Aajeevika- Interest Subvention Scheme Please refer to our Circular RPCD. GSSD. CO. No.81/09.01.03/2012-13 dated June 27, 2013 on restructuring of Swarnajayanti Gram Swarozgar Yojana (SGSY) as National Rural Livelihoods Mission (NRLM). 2. As indicated in pararagraph 7 of the above circular, detailed guidelines for opeartionalisation of the Interest Subvention Scheme under NRLM for the SHG credit during the year 2013-14, as received from the Ministry of Rural Development, Government of India are annexed . Banks are advised to follow the instructions for opeartionalisation of the Scheme. 3. NABARD will issue separate guidelines to Regional Rural Banks and Cooperative Banks in the matter. Yours faithfully, (R. K. Moolchandani) General Manager Encl: As above
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/373 · issued 19 Nov 2013. The plain-English explanation above is BankPulse’s own independent summary.
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Worked example & action-note template

Example: if you are a Compliance officer at a bank this circular applies to (All Public Sector Banks, Regional Rural Banks (via NABARD), Cooperative Banks (via NABARD)), your first concrete step on “NRLM Interest Subvention Scheme for SHG Credit” is: “Review and implement the annexed detailed guidelines for the Interest Subvention Scheme under NRLM for SHG credit.” (RBI issued this 19 Nov 2013).

  1. Circular: RBI/2013-14/373 -- NRLM Interest Subvention Scheme for SHG Credit
  2. Issued: 19 Nov 2013
  3. Action required: Review and implement the annexed detailed guidelines for the Interest Subvention Scheme under NRLM for SHG credit.
  4. Action required: Ensure compliance with the operational instructions for the 2013-14 period as specified.
  5. Action required: Coordinate with NABARD for separate guidelines applicable to RRBs and cooperative banks.
  6. Owner: ____________ Target date: ____________
  7. Board/committee approval needed? Y / N
  8. 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.

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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=8580&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.
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