18. SHG (VIDHYA SHOBHA)

Eligibility:

SHGs with a good track record / repayment, which is in existence for more than 2 yearsSHG members who are desirous of availing the loan may join the scheme and start saving through a RD or SB in the name of the group for a period of six months. This saving is apart from the regular SHG savings. If the saving is in the form of RD, it can be extended if the group so desires for availing the education loans subsequently also.

Maximum Loan:

The loan is made available to the group in multiples of accumulated savings subject to maximum of six times at any time of the year depending upon educational requirements of the wards of the SHG members. This loan is apart from the regular SHG loan. 

The branch need not insist the SHGs to block the thrift so saved either in their SB / Term Deposit, since the loans are entertained only in case of well stabilised groups.

Multiple Loans:

There need not be any restrictions on the number of Vidhya Shobha loans per group. It may only be ensured that at the time of availing a fresh Vidhya Shobha loan, all the other loan accounts of the SHG are regular.

19. Griha Lakshmi

Objective: To finance SHG members individually for housing in rural semi urban/urban/metropolitan areas.

Eligibility:

SHGs in active existence/good track record for a minimum period of 1 year and above which are preferably carrying out economic activity either individually or jointly so as to have repaying capacity. All members of the identified SHG in the age group between 18-60 years.

Applicant should possess title deed/patta pass book/legally valid document/allotment letter issued by appropriate revenue authority and supported by other documents like tax paid receipt either in the name of the SHG member or in the name of his/her family members conveying clear title. Loan should be recommended by the SHG/NGO, though loan will be in the names of individuals.

Purpose: Construction/purchase of a house including sheds/godowns/to carry out related economic activities (eg. Cattle shed, provision store, Vegetable shop etc.)

All kind of improvements/ repairs/ maintenance/ value addition/ extension of existing house/ shed such as

• Replacing thatched roof with RCC / Tiled roof
  
• Construction of toilets / bathrooms / compound wall
  
• Installation of Rainwater harvesting devices 
  
• Loan for purchase of plot/site should be part of the Housing loan. (Transfer of property among blood relatives / family members not permissible

Source: www.indian-bank.com