The Bank shall claim Interest subsidy @ 2% p.a. on the loan account of the SHGs. So, the effective rate of interest, after receiving interest subsidy from NRLM & WBSSP shall come down to @ 2% p.a.
West Bengal Swanirbhar Sahayak Prakalpa
In order to provide relief to the interest burden on the Bank loan availed by the Self Help Groups, the State Government has introduced the West Bengal Swanirbhar Sahayak Prakalpa (WBSSP) Scheme.
Government shall provide an interest subsidy to the eligible SHGs on a portion of the interest charged by Commercial, Regional, Rural and Co-Operative Banks on the Bank loan.