Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM)

Last updated: 06 April 2021

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The Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM) aims to improve livelihood opportunities for urban poor. It provides financial assistance through interest subsidies on bank loans for individuals and groups to set up micro-enterprises. The scheme encourages entrepreneurship, supports Self-Help Groups (SHGs) in accessing credit, and offers training programmes. Specific provisions are made for women, Scheduled Castes/Tribes, minorities, and differently-abled individuals.

Reserve Bank of India RBI/2021-22/12 FIDD.GSSD.CO.BC.No.03/09.16.03/2021-22 April 05, 2021 The Chairman Managing Director/CEO All Scheduled Commercial Banks Small Finance Banks Madam/Dear Sir, Deendayal Antyodaya Yojana National Urban Livelihoods Mission (DAY-NULM) Please ref

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FAQ :

The DAY-NULM scheme aims to enhance livelihood opportunities for the urban poor by providing financial assistance through interest subsidies on bank loans for establishing individual and group enterprises.

Urban poor individuals and groups, including street vendors and Self-Help Groups (SHGs), are eligible. Specific quotas are reserved for women (at least 30%), SCs/STs, minorities (at least 15%), and the differently-abled (5%).

The scheme offers an interest subsidy on bank loans. The subsidy covers the interest rate above 7% per annum. Women's Self-Help Groups (WSHGs) receive an additional 3% interest subvention for timely loan repayment.

For individual micro-enterprises, the maximum project cost is ₹2,00,000. For group enterprises, the maximum loan is ₹2 Lakh per member or ₹10 Lakh, whichever is lower.

No collateral is required for loans up to ₹10 Lakhs for units in the MSE sector. The assets created by the enterprise will be hypothecated to the bank.

Prospective beneficiaries can approach their local Urban Local Body (ULB) or its representatives. Applications can also be submitted directly to the ULB on plain paper with basic details, or through community structures like SHGs and Area Level Federations.

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Notification No : RBI/2021-22/12 FIDD.GSSD.CO.BC.No.03/09.16.03/2021-22
Published in Community & General
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12066&Mode=0

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