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Schemes Flyer(Loan)

A. Background
         
  National Backward Classes Finance and Development Corporation (NBCFDC), a Government of India Undertaking has been established under the aegis of Ministry of Social Justice & Empowerment which provides financial assistance to the poor members of Backward Classes through Channel Partners (State Channelising Agencies (SCAs)/Banks ).  The Corporation provides loan assistance for their self-employment ventures in the following sectors:-
         
  1) Agriculture and Allied Activities
  2) Small Business/Artisan & Traditional Occupation
  3) Transport Sector & Service Sector
  4) Technical & Professional Trades/Courses
         
B. Eligibility for Loan & Certification required
         
  (a) The applicant should belong to a caste covering under the Other Backward Classes list as notified by State/Central Government from time to time. Relevant Caste Certificate to be issued by relevant authority of District Administration.
  (b) Annual family income should be below Rs.3.00 Lakh per annum irrespective of rural or urban area. Following certifications to establish the income criteria can be used by the applicant :-
    (i) Certificate of income issued by Competent Authority of State Government/Distt. Administration.
    (ii) Annual family income certificate may be considered by the SCAs/Banks/SSCs on self-certification of the beneficiaries with endorsement of the same by any Gazetted Officer notified by State/Central Government.
    (iii) In case of loan being applied at Bank (Channel Partner), Self-Certification assessed and endorsed by Branch Manager can be used for providing the loan.
    (iv) For Landless agriculture labour, marginalized farmers (those with upto One hectare land holding) and small farmers (those with upto Two hectare land holding), as assessed by the Banks through their standard processes and belonging to the Backward Classes will be automatically treated as part of the target group as per following considerations:-
      1) Landless agriculture labour and marginalized farmers with land holding less than One hectare will be deemed as having annual family income below Rs.1.50 Lakh per annum.
      2) Small farmers i.e. those with land holding between One and Two hectares will be deemed as having annual family income below Rs.3.00 Lakh per annum.
         
C. Types of Loans
         
  1 Term Loan Scheme
         
    (i) General Loan Scheme: Under this scheme, loan assistance is available for various income generating activities in various sectors such as Agriculture and Allied Sector, Small Business/Artisan & Traditional Sector and Transport & Service Sector. Loans are given upto 85% of the project cost subject to a maximum of Rs.15.00 Lakh per beneficiary. Loans upto Rs. 5.00 Lakh are provided at an interest rate of 6% per annum (p.a.). Loans above Rs. 5.00 Lakh and upto Rs. 10.00 Lakh are provided at an interest rate of 7% p.a. Loans above Rs. 10.00 Lakh and upto Rs. 15.00 Lakh are provided at an interest rate of 8% p.a. The loan repayment period is 8 years.
         
    (ii) New Swarnima Scheme: Under this scheme, loan assistance is available for women of Backward Classes to inculcate the spirit of self-reliance among them. Loans are given upto 95% of the project cost. The maximum loan limit per beneficiary is Rs. 2.00 Lakh at an interest rate of 5% p.a. The loan repayment period is 8 years.
    (iii) Education Loan Scheme: Under this scheme, loan assistance is available to the students of Backward Classes. The applicant should have obtained admission for any professional or technical courses approved by appropriate agency such as AICTE, Medical Council of India, UGC etc. in a duly accredited/recognized institute and have minimum 50% marks in qualifying exam. Loans are given upto 90% of the course fees for studies in India and upto 85% of the course fees for studies outside India. Maximum loan limit per student is Rs.15.00 Lakh for studying in India at an interest rate of 4% p.a. (3.5% p.a. for girl student). Maximum loan limit per student is Rs.20.00 Lakh for studying abroad at an interest rate of 4% p.a. (3.5% p.a. for girl student). Loan is to be repaid in 15 years with moratorium period of 5 years.
         
  2 Micro Finance Scheme
         
    (i) Micro Finance Scheme: Under this scheme, loan assistance is available to Self Help Groups (SHGs) to provide credit facilities for the target group especially for mixed group beneficiaries. Loans are given upto 90% of the project cost. Maximum loan limit per Group is Rs.15.00 Lakh and loan per beneficiary in SHG is Rs.1.00 Lakh at an interest rate of 5% p.a. Under this scheme repayment period is 4 years.
    (ii) Mahila Samriddhi Yojana: Under this scheme, loan assistance is available to Self Help Groups (SHGs) to provide credit facilities for the target group especially women beneficiaries. Loans are given upto 95% of the project cost. Maximum loan limit per Group is Rs.15.00 Lakh and loan per beneficiary in SHG is Rs.1.00 Lakh at an interest rate of 4% p.a. Under this scheme repayment period is 4 years.
    (iii) Small Loan: Under this scheme, loan assistance is available to individuals to provide credit facilities for the target group. Loans are given upto 85% of the project cost. Maximum loan limit per beneficiary is Rs.1.00 Lakh at an interest rate of 6% p.a. Under this scheme repayment period is 8 Years.
    (iv) NBFC-MFI Loan: Under this scheme, loan assistance is available through Micro Finance Institutions (MFIs) to SHGs. Loans are given upto 90% of the project cost. Maximum loan limit per Group is Rs.15.00 Lakh and loan per beneficiary in SHG is Rs.1.00 Lakh at an interest rate of 12% p.a. Under this scheme repayment period is 4 Years.
         
    # In case of Banks, NBCFDC loan will be available up to 100%, however, disbursement will be made as per specific demand of Bank.
    * For Persons of the target group with Disabilities (40% or more) a special concession of 0.25% on rate of interest is provided.
    Formation of SHGs under NBCFDC's Micro Finance and Mahila Samriddhi Yojana:-
         
NBCFDC recognizes Self Help Groups (SHGs) in which predominantly (60% and above) members belong to Backward Class provided other members belong to weaker sections (as per income or economic criteria prescribed by Govt.) including Scheduled Castes/Scheduled Tribes/Minorities and Person with Disabilities (PwD).
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