The Hindu Business Line : RBI directive on self-employment ventures

THE Reserve Bank of India has directed banks that 90 per cent of the self-employment ventures under the Prime Minister Rozgar Yojana should be sanctioned and 75 per cent should be disbursed by the end of 2005.

The Central government has set a target of 4,08,600 self- employment ventures under the PMRY for 2005-06. In order to prevent bunching of cases at the end of the year, banks should aim at sponsoring of applications, sanctioning and disbursement of loans and subsidies over the four quarters, the RBI directive said.

The scheme will be implemented in the rural as well as in the urban areas.The implementing agencies should try to sponsor or sanction maximum number of applications in the industry sector.

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