banking and financial consciousness

Bank and Economical Awareness

September 2013

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Banking and Monetary Awareness of Sept 2013

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this individual Cabinet Committee on Economical Affairs on 3 Sept, approved the proposal pertaining to restructuring in the centrally sponsored Scheme of Swarna Jayanti Shahari Rozgar Yojana (SJSRY) in the twelfth Plan as the




National Urban Livelihoods Quest (NULM) with an allocation of approximately Rs. 6, 405 crore. The Mission of

NULM is usually to reduce low income and vulnerability of the urban poor homes by enabling them to access gainful

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self-employment and competent wage employment opportunities, resulting in an appreciable improvement in their livelihoods on a lasting basis, through building strong grassroots level institutions in the poor. The mission

will also aim at providing shelter equipped with essential services to the urban destitute in a phased manner. Additionally , the Mission would as well address livelihood concerns from the urban streets vendors likewise by facilitating access to appropriate spaces, institutional credit, social security and skills to the urban road vendors for accessing emerging market options. NULM can rest on the foundation of community mobilization and females empowerment. Under the Mission, Town Livelihood Zones (CLCs) will be established in Mission cities to provide a system whereby the urban poor can marketplace their providers and gain access to information on self-employment, skill


training and also other benefits. NULM will goal the city poor who also are occupationally vulnerable intended for Employment through Skills Training & Position (EST& P). Through the Self-Employment Programme (SEP), NULM provides financial assistance to individuals and groups of city poor to setup gainful self-employment / microenterprise ventures. A mission mode approach by means of the National Urban Livelihoods Mission (NULM) is considered essential to organize metropolitan poor in Self Support Groups, creating opportunities pertaining to skill creation leading to market-based employment and helping them to set up self-employment ventures making sure the project easy


access to credit rating. This will make empowerment and dignity of life of the urban poor. The approval from the National Metropolitan Livelihoods Mission (NULM) symbolizes a strategic move in the Government's commitment to urban lower income alleviation. The NULM will probably be implemented in two stages: Phase I (2013-2017) and Period II (2017-2022). In Phase i treatment, NULM will target almost all cities having a population of just one lakh or more and district headquarter neighborhoods with a populace of below one lakh as per Census of India 2011. However , other towns



may be allowed in exceptional cases on the request from the States. Funding will be shared between the Hub and the States in the ratio of 75: 25. Intended for North Eastern and Unique Category Says (Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Jammu & Kashmir, Himachal Pradesh and Uttarakhand), this percentage will be 80: 10.


anks won't be allowed lump-sum disbursal of endorsed housing financial loans. The Reserve Bank of India provides told the banks that disbursal of sanctioned financial loan will have to be tightly linked to the periods of


construction with the housing projects/houses. And, the RBI has additionally made it obvious to them that simply no upfront disbursal should be made in cases of incomplete/under-construction/green field housing projects. The RBI diktat in 3 Sept. 2010, comes in watch of the higher risks connected with such lump-sum disbursal of sanctioned real estate loans. Banking institutions have maintained to join hands with developers/builders to present innovative real estate loan plans such as this a single — upfront disbursal of sanctioned financial loans sans virtually any linkage to stages of construction of a

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