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All women SHGs under DAY-NRLM will be eligible for interest subvention on prompt payment to the extent of the difference between the lending rates and 7% for loans up to ₹3,00,000, subject to a maximum of

1. 7.20%
2. 4%
3. 3%
4. 2.50%

Correct answer: 3%

Solution

Under DAY-NRLM, women SHGs are eligible for interest subvention on prompt repayment. The subvention is the difference between the lending rate and 7%, subject to a maximum of 3%.

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