The Government is considering upward revision of income eligibility criteria for availing concessional loan by minorities living below double the poverty line through the National Minorities Development & Finance Corporation (NMDFC). This is being considered to ensure larger outreach of the benefits of NMDFC schemes. At present the families with an annual income of less than Rs. 40,000 per year in rural areas and Rs. 55,000 per year in urban areas are categorized as below double the poverty line. The quantum of loan amount that can be availed by beneficiaries has also been increased twofold.
NMDFC is playing crucial role in changing lives of minorities living below double the poverty line by providing concessional finance for self employment / income generation activities. Since inception of NMDFC in 1994 up to 31st March, 2013, concessional loans worth Rs. 2264.30 Crores have been disbursed to 9,05,643 minority beneficiaries under Term Loans/Micro-finance schemes. Of this, amount of Rs. 1,893.21 Crores benefiting 8,03,307 beneficiaries has been disbursed by the end of 11th Five Year Plan and 371.09 Crores has been disbursed for the benefit of 1,02,336 beneficiaries during the financial year 2012-13.
The lending Schems of NMDFC include Term Loan Scheme, Margin Money Loan Scheme, Educational Loan Scheme, Micro Financing Scheme, Interest Free Loan Scheme and Mahila Samridhi Yojana.
In addition, under its promotional programmes, the NMDFC implements schemes of Vocational Training and Marketing Assistance to craft persons. Promotional Schemes include Vocational Training Scheme aiming at imparting skills to the targeted individual beneficiaries leading to self/wage employment. Marketing Assistance Scheme meant for individual crafts-persons as well as SHGs to promote marketing and sale of products at remunerative prices, and Assistance for Design Development/Skill Up-gradation for Crafts-person requiring exposure to new designs and training to upgrade their skills to meet challenge of changing world people’s perception, likings and tastes.
The annual review of State Channelizing Agencies(SCAs) by The National Minorities Development & Finance Corporation (NMDFC) is being held in Chennai tomorrow. The Meeting will discuss the take-aways of the last financial year and will work out the strategy for the current year to be adopted by the State Channelizing Agencies in order to deliver their services effectively and efficiently for economic and educational empowerment of the poor notified minorities in the country. About 100 participants from 36 SCAs are likely to participate and interact to deliberate issues and best practices.
NMDFC , a national level apex financing body under the administrative control of the Ministry of Minority Affairs has two channels to reach the target groups. One through the State Channelizing Agencies (SCAs) nominated by the respective State Governments /UT Administrations and another through the Non Government Organizations (NGOs). At present NMDFC has 36 operational SCAs in 27 States / UTs. Further, 14 States have setup exclusive Minority Development & Finance Corporations.
NMDFC is playing crucial role in changing lives of minorities living below double the poverty line by providing concessional finance for self employment / income generation activities. Since inception of NMDFC in 1994 up to 31st March, 2013, concessional loans worth Rs. 2264.30 Crores have been disbursed to 9,05,643 minority beneficiaries under Term Loans/Micro-finance schemes. Of this, amount of Rs. 1,893.21 Crores benefiting 8,03,307 beneficiaries has been disbursed by the end of 11th Five Year Plan and 371.09 Crores has been disbursed for the benefit of 1,02,336 beneficiaries during the financial year 2012-13.
The lending Schems of NMDFC include Term Loan Scheme, Margin Money Loan Scheme, Educational Loan Scheme, Micro Financing Scheme, Interest Free Loan Scheme and Mahila Samridhi Yojana.
In addition, under its promotional programmes, the NMDFC implements schemes of Vocational Training and Marketing Assistance to craft persons. Promotional Schemes include Vocational Training Scheme aiming at imparting skills to the targeted individual beneficiaries leading to self/wage employment. Marketing Assistance Scheme meant for individual crafts-persons as well as SHGs to promote marketing and sale of products at remunerative prices, and Assistance for Design Development/Skill Up-gradation for Crafts-person requiring exposure to new designs and training to upgrade their skills to meet challenge of changing world people’s perception, likings and tastes.
The annual review of State Channelizing Agencies(SCAs) by The National Minorities Development & Finance Corporation (NMDFC) is being held in Chennai tomorrow. The Meeting will discuss the take-aways of the last financial year and will work out the strategy for the current year to be adopted by the State Channelizing Agencies in order to deliver their services effectively and efficiently for economic and educational empowerment of the poor notified minorities in the country. About 100 participants from 36 SCAs are likely to participate and interact to deliberate issues and best practices.
NMDFC , a national level apex financing body under the administrative control of the Ministry of Minority Affairs has two channels to reach the target groups. One through the State Channelizing Agencies (SCAs) nominated by the respective State Governments /UT Administrations and another through the Non Government Organizations (NGOs). At present NMDFC has 36 operational SCAs in 27 States / UTs. Further, 14 States have setup exclusive Minority Development & Finance Corporations.
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