Micro-credit by UTI, REPCO Bank for SHGs

Mumbai, Jan 8 (UNI) UTI Mutual Fund and the Repatriates Co-op Finance and Development Bank (REPCO Bank) have entered into a customized arrangement to provide micro-credit to Self Help Groups(SHGs) under REPCO Foundation.

Under the arrangement, SHGs associated with REPCO Bank can avail of micro-credit under UTI's Retirement Benefit Pension Fund.

The members will have to contribute a minimum amount of Rs 100 per month till the age of 55 years to the pension fund. The members will be eligible to receive pension in the form of periodical cash flow after 56 years of age, a release stated.

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