NBCFDC Schemes
National Backward Classes Finance & Development Corporation
( A Govt. of India Undertaking, Ministry of Social Justice & Empowerment)
A Brief on the Working of NBCFDC
National Backward Classes Finance and Development Corporation (NBCFDC), a Government of India Undertaking under the aegis of Ministry of Social Justice & Empowerment and has an authorized share capital of Rs.1500 Crore against which the Ministry has so far released Rs.1024 Crore.
NBCFDC was incorporated on 13 January, 1992 under Section 8 of Companies Act 2013 (earlier Section 25 of the Companies Act, 1956) as a Company not for profit with an objective to promote economic and developmental activities for the benefit of Backward Classes and to assist the poorer section of these classes in skill development and self employment ventures. Schemes are implemented through State Channelising Agencies (SCAs) nominated by respective State Government/UT.
Eligibility
Members of Backward Classes having annual family income less than double the poverty line (i.e. Rs.3,00,000/- in rural areas and Rs.3,00,000/- in urban areas) are eligible to obtain loan from NBCFDC.
NBCFDC assists a wide range of income generating activities which include agricultural and allied activities, small business/artisan and traditional occupation, transport sector & service sector, technical and professional trades/courses.
Types of Loan & Pattern of Finance
a) Term Loan : Maximum loan limit : Rs. 15 Lakh per beneficiary.
NBCFDC Loan : upto 85% of the project cost in general scheme. Balance 15% to be shared by SCA/Beneficiary.
b) Micro Finance: Maximum loan limit : Rs. 1,00,000/- per beneficiary/member of the SHG.
NBCFDC Loan : upto 90% to 95% of the project cost. Balance 5%-10% to be shared by SCA/Beneficiary.
Activities which can be financed
The Corporation can assist a wide range of income generating activities under following broad sectors:
- Agriculture & Allied Activities
- Small Business/Artisan & Traditional Occupation
- Transport Sector & Service Sector
- Technical and Professional Trades/Education loan for professional Courses
The SCAs are to disburse loans for viable projects as per needs and choice of beneficiaries under above mentioned broad sectors.
Types of loan:
Term Loan
(a) New Swarnima for Women
Under this scheme, women belonging to backward classes living below double the poverty line can obtain loan upto Rs.2,00,000/- @ 5% p.a.
NBCFDC loan : 95% of Project Cost.
(b ) Education Loan Scheme
NBCFDC provides Educational Loans to the students of Backward Classes living below double the poverty line for pursuing general/ professional/technical courses or trainings at graduate and / or higher levels. Maximum loan limit in India is Rs.15 lakh and abroad is Rs.20 Lakh. The rate of interest is 4% p.a. and girl students will get at special concessional rate of interest @ 3.5% p.a.
NBCFDC loan :90% for study in India and 85% for study abroad.
Micro Finance
(a) Micro Finance Scheme : NBCFDC’s Micro Finance Scheme is implemented by SCAs through accredited NGOs/Self-Help Groups. The maximum loan limit per beneficiary is Rs.60,000/-. The rate of interest 5% p.a. from SCA to Beneficiary.
NBCFDC loan : 90% of Project Cost
(b) Mahila Samriddhi Yojana (Micro Finance Scheme for Women) : NBCFDC’s Mahila Samriddhi Yojana is implemented by SCAs through accredited NGOs/Self-Help Groups (SHGs).
The maximum loan limit per beneficiary is Rs.1,00,000/-. The rate of interest is 4% p.a. from SCA to Beneficiary.
NBCFDC loan : 95% of Project Cost. www.ksbcdc.com
(c) Krishi Sampada : To provide concessional loans under Micro Finance to small farmers, vegetable vendors of the target group for requirement of funds during Rabi & Kharif or any cash crop. The loanee can obtain loan upto Rs.1,00,000/- @ 4% p.a.
NBCFDC loan : 95% of Project Cost
Other Developmental Activities
Training & Development : The Corporation provides financial assistance for Skill Development Training Programme and for entrepreneurial skills of eligible members of Backward Classes living below double the poverty line. Financial assistance is provided through SCAs/National Level/State Level Training Institutes, to create an ecosystem of empowerment of Backward Classes (Target Group) by Skilling on a large scale with high standards and to promote a culture of entrepreneurship which can generate wealth and self-employment or wage employment leading to sustainable livelihood for target group population in the country.
Marketing Linkages : Besides other developmental activities, the Corporation is promoting, marketing facilities for the artisans of the target group by providing opportunities to participate in the Country's leading fairs like India International Trade Fair, Dilli Haat and Suraj Kund Crafts Mela etc. as well as in the exhibitions/fairs organized in their respective States. The event not only give much needed marketing exposure to these artisans, but also provide an opportunity to market their products at good price which usually they find difficult in their own places. NBCFDC helps traditional BC Artisans by way of providing them platform to exhibit their products in the exhibitions to establish marketing linkages. NBCFDC also motivates the SCAs to organize or participate in exhibitions to showcase the schemes of the Corporation and also to exhibit the diverse products and services for which NBCFDC has provided financial assistance to the members of Backward Classes in different parts of the Country through SCAs. The objective of such exhibitions is to generate awareness about the NBCFDC schemes as well as to give exposure to the artisans of the target group to a bigger market. Beneficiaries are also being provided to and fro expenses, etc. NBCFDC also motivates its beneficiaries to take benefit of Online Portals.
