National Scheduled Castes Finance and Development Corporation (NSFDC)
About NSFDC:
- National Scheduled Castes Finance and Development Corporation (NSFDC) was set up in 1989 as a non profit company. with the name National Scheduled Castes and Scheduled Tribes Finance and Development Corporation (NSCSTFDC).
- It was incorporated as a fully owned Government of India Company under Section 8 of the Companies Act, 2013 (Previously Section 25 of the Companies Act, 1956).
- Established under Ministry of Social Justice and Empowerment, Government of India for financing, facilitating and mobilizing funds for the economic empowerment of persons belonging to the Scheduled Castes families living below double the Poverty Line
- NSFDC finances income generation schemes for the target group through the State Channelizing Agencies (SCAs) nominated by respective State/UT Governments.
Vision of NSFDC:
To be the leading catalyst in systematic reduction of poverty through socio-economic development of eligible Scheduled Castes, working in an efficient, responsive and collaborative manner with channelizing agencies and other development partners.
Mission of NSFDC
Promote prosperity among Scheduled Castes by improving flow of financial assistance and through skill development & other innovative initiatives.
Objectives of NSFDC
- Identification of trades & other economic activities of importance to Scheduled Castes population.
- Upgradation of skills & processes used by persons belonging to Scheduled Castes.
- Promotion of small, cottage & village industries.
- Financing of pilot programmes for upliftment and economic welfare of persons belonging to Scheduled Castes.
- Improvement in flow of financial assistance to persons belonging to Scheduled Castes for their economic well-being.
- Assistance to target group in setting up their projects by way of project preparation, training and financial assistance.
- Extending loans to eligible students belonging to Scheduled Castes for pursuing full time professional and technical courses in India and abroad.
- Extending loans to eligible youth to enhance their skill & employability by pursuing vocational education & training courses in India.
NSFDC Operation
- Financing income generating schemes for the SCs through the State Channelizing Agencies (SCAs) and other recognized institutions nominated by the respective State /UT Governments.
- Providing Micro-Credit Finance to the target group through the SCAs.
- Providing Educational Loan to the eligible scheduled caste students for pursuing full-time professional/technical educational courses in India or abroad.
- Providing grants for skill development programmes through the SCAs.
- Providing advisory services to target group and SCAs.
- Upgrading the skill levels of the SCAs.
Activities/Schemes
- Eligibility Criteria
- The beneficiary should be from the Scheduled Caste Community.
- Annual family income of the beneficiary(ies) should not exceed Double the Poverty Line (DPL) income limit (presently Rs. 81,000/- p.a. for rural areas and Rs.1,03,000/- p.a. for urban areas).
Different loan schemes of NSFDC
NSFDC provides loans for income generating activities in Agriculture and other allied, industrial and service sector & for professional/ Technical education. NSFDC has following Loan Schemes:
- Term Loan – NSFDC provides term loan for project(s)/unit(s) costing upto Rs 30.00 lakhs.
- Micro Credit Finance – Beneficiaries are eligible for subsidy @ Rs 10,000/- or 50% of the unit cost, whichever is less and to be provided by SCAs to the Below Poverty Line (BPL) Beneficiaries under the Central-Sector Scheme of Special Central Assistance to the Scheduled Castes Sub Plan (SCSP) funds released by Ministry of Social Justice & Empowerment to the State Governments.
- Mahila Samriddhi Yojana – Beneficiaries are eligible for subsidy @ Rs 10,000/- or 50% of the unit cost, whichever is less to be provided by SCAs to the Below Poverty Line (BPL) Beneficiaries under the Central-Sector Scheme of Special Central Assistance to the Scheduled Castes Sub Plan (SCSP) funds released by Ministry of Social Justice & Empowerment to the State Governments.
- Mahila Kisan Yojana – Beneficiaries are eligible for subsidy @ Rs 10,000/- or 50% of the unit cost, whichever is less to be provided by SCAs to the Below Poverty Line (BPL) Beneficiaries under the Central-Sector Scheme of Special Central Assistance to the Scheduled Castes Sub Plan (SCSP) funds released by Ministry of Social Justice & Empowerment to the State Governments.
- Shilpi Samriddhi Yojana – Under the SSY, loans are provided to Scheduled Castes Artisans possessing Artisan Identity Card issued by the Development Commissioner (Handicrafts), Ministry of Textile, Govt. of India or State Government.
- Laghu Vyavasaya Yojana – Under the scheme unit cost is Rs. 2.00 lakhs and NSFDC finances up to 90% of the unit cost. Rate of interest is 6% per annum and the loan is recoverable in maximum up to six years including moratorium. SCA can avail funds under the group scheme which is up to Rs. 5.00 crores within a unit cost of Rs. 2.00 lakhs.
- Nari Arthik Sashaktikaran Yojana – Nari Arthik Sashakti karan Yojana (NASY) to support single women/widows/women who are head of their families to take up income generating activities and improve their socio-economic status.
- Educational Loan Scheme – Educational Loan shall be provided to eligible students for pursuing regular full time Professional / Technical recognized courses approved by the Government in the select fields in India or Abroad.
- Green business scheme – To provide financial assistance in the form of loan for the activities which could tackle the climate change along with income generation. Indicative activities include Battery electric vehicle(E-rickshaw), Compressed air vehicle, Solar energy gadgets, Poly houses, etc.
- MAHILA ADHIKARITA YOJNA (MAY)
- STAND-UP INDIA (SUPI)
- UDYAM NIDHI YOJANA (UNY)
- VOCATIONAL EDUCATION AND TRAINING LOAN SCHEME (VETLS)
- AAJEEVIKA MICRO-FINANCE YOJANA (AMY)
- SWACHHTA UDYAMI YOJANA-” SWACHHTA SE SAMPANNTA KI AUR”(SUY)