What changed
RBI issued a Master Circular consolidating all previous SRMS instructions issued up to June 30, 2013, into one document. The circular reaffirms that the scheme remains active for residual cases reported by states/UTs, even though initial targets were met by June 2010.
What it means for you
Banks must treat this Master Circular as the single reference for SRMS implementation, replacing earlier circulars. The scheme's continuation means lenders should keep processing applications from eligible manual scavengers and their dependents, with capital subsidy and concessional loan components still available.
What you must do
- Replace all previous SRMS circulars with this Master Circular for internal guidelines.
- Continue financing eligible manual scavengers and dependents reported by states/UTs.
- Use the prescribed reporting proformas in Annexure II and III for performance and recovery data.
- Coordinate with State Channelising Agencies listed in Appendix I for beneficiary sponsorship.
Who it affects
All Indian Public Sector Banks (excluding RRBs), State Channelising Agencies under Ministry of Social Justice and Empowerment, Manual scavengers and their dependents eligible for rehabilitation
What is the objective of the SRMS scheme?
To rehabilitate manual scavengers and their dependents who have not yet been assisted under any government scheme, by providing capital subsidy, concessional loans, and capacity building for alternative dignified occupations.
Who is eligible for assistance under SRMS?
Scavengers and their dependents, irrespective of income, who are yet to receive rehabilitation assistance from any central or state government scheme. Each scavenger and their children aged 18 and above who are not employed (other than as scavengers) can be identified and assisted.
Are banks required to continue financing under SRMS after June 2010?
Yes, the scheme is still functioning to cover residual cases reported by states/UTs, so banks must continue financing eligible projects under SRMS as per the Master Circular.