Skip to main content

Schemes of National Minorities Development and Finance Corporation


National Minorities Development and Finance Corporation (NMDFC) provides concessional loans to minorities for selfemployment 
and income generating activities through the State channelizing Agencies (SCAs) nominated by the respective State 
governments/ Union Territory (UT) Administration. 
For availing assistance under NMDFC schemes, the annual family income eligibility criterion is Rs. 81,000 for rural areas and Rs. 1.03 for urban areas. Higher annual household income eligibility criterion of upto Rs.6.00 lakh has also been introduced for increasing coverage of beneficiaries under NMDFC schemes. 

The schemes implemented by NMDFC are as follows: 

A. Concessional Credit Schemes 

1. Term Loan:-Maximum Loan of up to Rs.20.00 Lakh per beneficiary is available under Credit Line-1 at an interest rate of 6% per 
annum. Higher loan of maximum up to Rs.30.00 Lakh per beneficiary is available under Credit Line-2 at an interest rate of 8% per 
annum for male beneficiaries and 6% per annum for female beneficiaries. 

2. Micro Finance:-Maximum loan upto Rs.1.00 Lakh per Self Help Group (SHG) member is available under Credit Line-1 at an 
interest rate of 7% per annum.Higher loan of maximum upto Rs.1.50 Lakh per SHG member is available under Credit Line-2 at an 
interest rate of 10% per annum for male beneficiaries and 8% per annum for female beneficiaries. The micro-finance scheme is 
primarily aimed at extending concessional credit to women beneficiaries. 

3. Education Loan:- Under Credit line-1, the Educational Loan of upto Rs.15.00 Lakh for courses within India and Rs.20 Lakh for 
courses abroad, is available at an interest rate of 3% per annum for pursuing technical and professional courses with maximum 
course duration of 5 years. Under Credit line-2, higher Educational Loan of upto Rs.20.00 Lakh for courses within India and Rs.30 Lakh for courses abroad, is available at an interest rate of 8% per annum for male candidates and at 5% per annum for female 
beneficiaries. 

4. Mahila Samridhi Yojana:- Skill development training is imparted to group of women in women friendly trades. Training period is of 
maximum 6 months with training and raw material cost of upto Rs.1,500 per women and stipend @ Rs.1,000 per women. During the period of training, the women are formed into Self Help Group, followed by infusion of micro-credit maximum upto Rs.1.00 Lakh per member for the purpose of using the skill developed during the training, for income generation activities. 

B. Development Schemes:- 

As part of its developmental mandate, NMDFC also implements promotional schemes like Skill Development and Marketing support for the benefit of its target groups thereby, strengthening its economic mandate, as well. Women beneficiaries are given preference. 

Detailsare as follows:- 

1. Vocational Training Scheme:- The Vocational Training Scheme of NMDFC aims at imparting skills to the targeted individual 
beneficiaries leading to wage/self-employment. The scheme is implemented through the SCAs which organize need based skill 
development training with the help of local Government owned/recognized training institutes in trades having potential wage/selfemployment. 

The cost of the training program is up to Rs.2000 per candidate per month for courses up to 6 months duration. 
Stipend @ Rs.1000 per month per trainees is also offered during the training. 

2. Marketing Assistance Scheme:- The Marketing Assistance Scheme is meant for individual crafts persons, beneficiaries of NMDFC as well as SHGs and is implemented through the SCAs. The scheme envisages to promote sale and marketing of their products at remunerative prices through participation/organizing exhibitions at State/District level. 
Labels:

Comments

Post a Comment

Popular posts from this blog

India Tech Vision-2035

India Tech Vision-2035 India's technology thinktank under the ministry of science & technology has come out with `Technology Vision 2035' here at the ongoing Indian Science Congress, identifying the challenges ahead and how they can be dealt with through technological interventions while realising the dream of a developed India by the year 2035. The thinktank -Technology Information, Forecasting and Assessment Council (TIFAC) -in the vision document lists a technology roadmap for India, giving details of 12 sectors and technologies that in some cases exist but need to be deployed, some in the pilot stage that must be scaled up and technologies in R&D stage. It, in fact, talks about many future technologies, ranging from flying cars, real time translation software, personalised medicine, wearable devices, e-sensing (e-nose and e-tongue) to 100% recyclable materials among others which may be used in different areas to solve day-to-day problems “The trajectories del...
Post a Comment
Read more

Inland Waterways in India

Here are some key points you need to know: The bill seeks to add 106 inland waterways to the existing six National Waterways on the recommendations of the Parliamentary Standing Committee on Transport, Tourism and Culture and comments of several state governments The bill will also look after the renovation and maintenance of the existing waterways Out of the 106 new waterways, 18 have already been identified. These include five waterways each from Karnataka and Meghalaya, three each from Maharashtra and Kerala, one each from Tamil Nadu and Rajasthan The bill also aims to help the Inland Waterways Authority of India (IWAI) to develop the feasible stretches for Shipping and Navigation. Let us look at the six existing National Waterways in India: National Waterway 1 (NW1) The National Waterway No. 1 uses a 1,620-kilometre stretch of the Ganges River. It was declared a national waterway in the year 1986 and runs from Allahabad in Uttar Pradesh to Haldia in West Bengal....
Post a Comment
Read more

Budget basics: A glossary of terms used in Budget

Disinvestment Receipts The term refers to the money raised by the Government through disinvestment, or the sale of its equity stake in companies it owns. Fiscal Responsibility and Budget Management Act The Act is an attempt to make the Government adhere to a phased plan to reduce fiscal deficit, which denotes an excess of expenditure over revenue. Dividend Distribution Tax This is a tax levied on companies that pay out dividends to its shareholders, i.e. share a portion of earnings with them. Venture Capital Funds These are funds that invest in startups, a financially riskier proposition than investing in established companies. Securities Transaction Tax It is a tax on all transactions done over the stock exchanges involving securities such as shares, derivatives, and equity-linked mutual funds. Wholesale Price Index (WPI) It is a measure of inflation, or price change, arrived at after regularly measuring the prices of a slew of wholesale goods. Consumer Price...
Post a Comment
Read more