Micro Financing scheme
Loan
Finance
National Minority Development & Finance Corporation ltd., New Delhi
This program has been introduced for the first time in the financial year 2007- 08 till date this scheme has been implemented through the NGOs only. To bring self-reliant among these down-trodden minorities self-help groups are formed and on the basis of their activity and also thrift and credit the NGO, who is interested in serving such people, and agreement is make with the corporation so that the loan amount provided could be secured. The recovery of this loan is made by the NGOs mostly on daily basis, which is ultimately repaid to the corporation on quarterly basis(Microfinancing scheme, n.d.).
Under this scheme loan @ of 3% per annum at a maximum of Rs. 25,000/- is provided to helpless and extremely poor minorities with a view to give chance to earn their bread after starting small business / shops this loan is provided to the minority either directly through the corporation or through the NGOs without obtaining and guarantee or mortgage(Micro financing scheme, n.d.).
Implemented through NGOs only
Bihar State Minorities Financial Corporation
Mr. Rasheed Ahmad
Managing Director
Div. Office : Ali Nagar ,Ward No.22 , Kosi, Sarsha ; Head office: Haj Bhawan, Patna
minocorpatna@gmail.com
9304704035 ; 9473030592
0612-2215994
Application form: http://www.bsmfc.org/images/stories/bihar_state_minority/Micro%20Financing.pdf