LENDING
SCHEMES
1) TERM LOAN SCHEME
(The Scheme is for individual beneficiaries and is implemented through the SCAs)
Under the Term Loan Scheme, projects
costing upto Rs. 5 lacs are considered. NMDFC provides loan to the
extent of 85% of the project cost subject to a maximum of Rs.
4,25,000/-. The remaining cost of the project is met by the SCA and the
beneficiary, however, the beneficiary has to contribute minimum 5% of
the project cost. Rate of Interest charged from the beneficiaries is 6%
p.a. on reducing balance.
Assistance under Term Loan Scheme is
available for any commercially viable and technically feasible venture
which for the sake of convenience has been into the following sectors:
- Agriculture & Allied
- Technical Trade
- Small Business
- Artisans & Traditional Occupation
- Transport & Service Sector
An
illustrative list of self employment projects grouped under the above
referred sectors is given under the head “Illustrative List of
Schemes”. The list is illustrative and not exhaustive.
2) MARGIN MONEY LOAN SCHEME
(The Scheme is for individual beneficiaries and is implemented through the SCAs)
Margin Money assistance is provided
to beneficiaries availing bank finance. Generally Public Sector Banks
finance upto 60% of the project cost and seek 40% from the
beneficiaries. Under Margin Money Loan Scheme, NMDFC provides loan to
the eligible beneficiaries to meet the requirement of margin asked by
the bankers. For this purpose, loan upto 25% of the project cost
subject to a maximum of 1.25 lacs per unit is available. The SCA and
the beneficiary are expected to contribute the remaining amount. Rate
of Interest charged from the beneficiaries is 3% p.a. on reducing
balance.
3) EDUCATIONAL LOAN SCHEME
(The Scheme is for individual beneficiaries and is implemented through the SCAs)
NMDFC has introduced the scheme of
Educational Loans with the objectives to facilitate job-oriented
education amongst the weaker sections of Minorities. The scheme
envisages maximum loan of Rs. 2.5 lacs i.e., Rs. 50,000/- every year
for pursuing professional and technical courses of duration not
exceeding 5 years. Funds for this purpose are made available to the
SCAs at interest of 1% for lending to the beneficiaries at 3%. The loan
is repayable maximum in 5 years after the completion of the course.
4) MICRO FINANCING SCHEME
(The Scheme is for the members of the Self Help Groups and is implemented through the SCAs as well as NGOs)
NMDFC launched the scheme of Micro
Financing in 1998 on the pattern of Grameen Bank of Bangladesh and
Rashtriya Mahila Kosh under the Department of Women and Child
Development in our own country. The scheme envisages micro credit to
poorest among poor through selected NGOs of proven bonafide and their
network of Self Help Groups. It is an informal loan scheme which
ensures quick delivery of loan at the door steps of the beneficiaries
with constant follow up. It also envisages a pre-requisite that the
beneficiaries are first organized into Self Help Groups and get into
the habit of effecting regular savings, however small. Under the
scheme, loan upto a maximum of Rs. 25,000/- per beneficiary can be
provided. The funds are made available to the NGOs at 1% interest p.a.
who further lend to the SHGs at 5% interest p.a. The repayment period
is maximum of 36 months.
5) INTEREST FREE LOAN FOR PROMOTION OF SHGs
(The Scheme is directly implemented by the NMDFC through the NGOs)
Financial assistance in the form of
Interest Free Loan is provided to the NGOs for promotion of Self Help
Groups (SHGs). The maximum amount of loan available is Rs. 2.15 lakhs
for promotion of 50 SHGs of about 1000 members. The loan is repayable
after one year and is adjusted by way of grant at the rate of 25% of
the loan advanced by the SHGs and 5% on their growth of savings
(provided the growth in savings is alteast 10% over the last year).
6) MAHILA SAMRIDHI YOJANA
(The Scheme is implemented through NGOs as well as SCAs)
Under Mahila Smaridhi Yojna,
training is given to a group of around 20 women in any suitable craft
activity. The group is formed into Self Help Group during the training
itself and after the training, micro-credit is provided to the members
of the SHGs formed. The maximum duration of the training is of 6 months
with maximum training expenses of Rs. 500/- p.m. per trainee. During
the training, a stipend of Rs. 250/- p.m. is also paid to the trainees.
The training cost and stipend is met by NMDFC as grant. After the
training, need based micro-credit (subject to maximum of Rs. 25,000/-)
is made available to each member of the self help group so formed at
interest rate of 4%.
7)
MINORITIES CLUSTER
DEVELOPEMENT PROGRAME
The Ministry of Minority Affairs,
Government of India based on 2001 Census, has identified 338 towns in
the country, having concentration of Minorities where the Socio Economic
Indicators are far below the national average. These 338 towns
(Clusters) are spread across 24 States.
1. It order to reach out to a
larger number of target groups with limited infrastructure and manpower
available with the SCAs, NMDFC has decided to give focus on these Urban
Concentration Towns as MINORITIES CLUSTERS for intensive
development. Through cluster approach it is expected that a quantum jump
in our reach to beneficiaries could be achieved.
2. To start with, during the year
2008-09, 40 clusters were identified & taken up for intensive and
focused activities by NMDFC. State-wise list of these clusters is
enclosed herewith as Annexure-I. During 2009-10, another 38 clusters has
also been identified out of the list of 338 towns and the list is
enclosed herewith as Annexure-III.
3. This programme is to be
organized by the concerned SCAs for which NMDFC would provide necessary
support. The project period of each of the clusters will be for 3 years.
The concerned SCAs are expected to organize at least the following
activities in each cluster in their jurisdiction during 2009-10.
i.
Awareness
Camp
- 1 No.
ii.
Term
Loan
- Rs.40.00
Lakhs
iii.
Micro
Financing
- Rs.20.00
Lakhs
iv.
Vocational
Training -
1 No.
v.
EDP
Training
- 1 No.
vi.
Mahila Samridhi
Yojana
- 1 No.
vii.
A course in Computer
Application
- 1 No.
The SCA would also have flexibility to
consider financing under the other schemes of NMDFC viz. Margin Money
Loans & Micro Credit through NGOs.
4. This programme would be in
addition to the normal schemes available in these Minority Clusters
concerned. The funds allocated to the SCAs would be disbursed under this
programme, independent of pending issues under general programme,
subject to availability of government guarantee.
5. The guidelines for
implementation of the programme in brief for organizing each of the
above activities are enclosed as Annexure-II.
