Micro finance
Micro finance, loan
Finance
Ministry of Social Justice and Empowerment
In order to cater to the Micro Finance needs of small entrepreneurs belonging to the target group, the Corporation has introduced a scheme for Micro Financing through nominated Channelising Agencies. It is desirable to disburse loans through Self-Help-Groups (SHGs) by SCAs under Micro Finance Scheme....SHGs is a small economically homogenous and affinity group of poor people voluntarily formed to save and mutually agree to contribute to a common fund to be lent to its members as per group decision. SCAs may also play a vital role through their field officers, encouraging people of the target group in forming Self-Help-Groups and get financial assistance under Micro Finance Scheme of NBCFDC(NBCFCC, n.d.). The pattern of financing is NBCFDC loan is 90% , SCA loan is 5% and beneficary contribution is 5% .
Maximum loan per beneficiary is Rs. 50,000 and maximum number of members per SHG is 20.
Members of Backward Classes as notified by Central / State Govt. and are living below double the poverty line i.e, annual family income of the beneficiary should be less than Rs.1,20,000/- p.a. in urban areas and Rs.98, 000/- p.a. in rural areas. In a SHG 75% of members can be from Backward Classes and remaining 25% members may be from other weaker section like SC / Handicapped etc(NBCFDC, n.d.). The rate of interest is from NBCFDC to SCA is 2% per annum, from SCA to SHG is 5% per annum. "Loan is to be repaid in quarterly instalments within 48 months (including the moratorium period of six months on the recovery of principal)(NBCFDC, n.d.)
National Backward Classes Finance and Development Corporation; The scheme is to be implemented through SCAs in rural and urban areas by way of financing the beneficiaries either directly or through Self-Help-Groups (SHGs) preferably in the areas remained uncovered so far under any of such scheme.(NBCFDC, n.d.).
Gopal Meena
District magistrate
5th Floor, NCUI Building, 3, Siri Institutional Area, August Kranti Marg, New Delhi-110016
national: nbcfdc@del3.vsnl.net.in local: dm-madhepura-bih@nic.in
National: 011-26511027/ 011-26511028, Local: 9473191353
011-26850086
Further details and application for the loan has to be at the district level at the office of the district collector