OBJECTIVE: To improve the economic conditions of the weakest of the weaker sections of community by providing financial assistance at concessional rate of interest for engaging in productive and gainful activities.
TARGETS: At least 2/3rd of the DRI advances should be granted through rural and semi-urban branches. It should be ensured that at least 40 percent of the total advances granted under DRI scheme go to eligible borrowers belonging to SC/ST category.
ELIGIBILITY NORMS:
LAND-HOLDING NORMS
• Persons not owning any land or
• The size of land holding does not exceed one acre in case of irrigated land and 2.5 acres in case of un-irrigated land.
However, the members of SC/ST category are eligible for the loan, irrespective of land holding, provided they satisfy the other eligibility criteria.
INCOME CRITERIA: Family income of the borrower from all sources does not exceed Rs.18000/- p.a. in rural areas and Rs.24000/- p.a. in urban and semi- urban areas.
NOTE:
• 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.
MARGIN: NIL
SECURITY: Assets purchased with bank loan may be hypothecated to the bank. No collateral security or third party guarantee to be asked
RATE OF INTEREST: 4% p.a.
NOTE: Interest Subsidy in DRI Advances has been discontinued w.e.f. Nov- 2016.