Question
Under DAY-NRLM's interest subvention provision for women Self-Help Groups, banks lend to eligible SHGs, and the difference between the bank's lending rate and a specified benchmark rate is subsidised by the government, up to a maximum credit amount of ₹3 lakh per SHG. What is this specified benchmark interest rate, up to which the effective cost of credit is brought down for the SHG?
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