To consider noting of the approval given by Board of Directors through circulation the policy of revised house hold income cap, indebtedness and all other guidelines for Microfinance loans as directed by RBI vide circular no RBI/DOR/2021-22/89 DoR.FIN.REC.95/03.10.038/2021-22 dated 14.03.2022
Household income:
Annual household income Rs. 3.00 Lakhs. Limit on the outflows on account of repayment including principal & interest of monthly loan obligations of a household as 50% of the monthly household income. The computation of loan repayment obligations shall take into account all outstanding loans (collateral-free microfinance loans as well as any other type of collateralized loans) of the household.
Income Assessment
| Particulars | Amount (In Rs.) |
|---|---|
| Maximum monthly income of a household…. (A) | 25,000/- |
| Less :Maximum expenses ………………. | |
| Food | B |
| Education | C |
| Medical | D |
| Electricity | E |
| Transportation | F |
| Total Expenses (B+C+D+E+F) should be maximum (G) | 12,500/- |
| Maximum Repayment obligation (A-G) | 12,500 |
1. Loan Pricing
| Parameters | Estimated % |
|---|---|
| Loan Processing Fees | 1.50% |
| Rate of Interest | 27.00% |