We are complying with both the guidelines as prescribed by RBI circular dated May 03, 2011 pertaining to Bank loans to Micro
Finance Institutions (MFIs) - Priority Sector Status and the introduction of new category of NBFCs -
Non Banking Financial Company - Micro Finance Institutions(NBFC-MFIs ).
Loans are sanctioned for supporting and enabling the members for undertaking Income Generating activities.
Processing fee is charged at the time of disbursement.
Borrowers and their spouse are covered under insurance.
Penalty is not charged in case of default.
Prepayment allowed but without penalty.
Admission fee will not be taken.
Loan is without collateral.
Security deposit is not taken at the time of disbursement.
Loan is repayable by weekly, fortnightly or monthly installments at the choice of the borrower.