NSFDC strives to help poor live better
National Scheduled Castes Finance and Development Corporation, NSCDFC, was set up in 1989 to promote economic empowerment persons belonging to scheduled castes.india Updated: Dec 05, 2010 22:47 IST
National Scheduled Castes Finance and Development Corporation, NSCDFC, was set up in 1989 to promote economic empowerment persons belonging to scheduled castes. It was set up with an authorised share capital of Rs1,000 crore. Excerpts from an interview with its chairman and managing director AC Padhi.
What are the corporation’s objectives?
The objectives of NSFDC are to economically empower scheduled caste persons living below double the poverty line (DPL) by providing financial assistance at a concession for income-generating activities, by developing their technical and entrepreneurial skills and assisting them in marketing avenues. The financing is done through the state channelising agencies (SCAs) nominated by respective state governments.
What are the loan schemes of the corporation?
NSFDC has five loan schemes under agricultural and allied, industries and service sectors. The loan amount for the schemes ranges from R30,000 under micro-credit finance to R30 lakh under term-loan schemes. In addition, Shilpi Samriddhi Yojana is a dedicated scheme for scheduled caste artisans.
How does NSFDC’s micro-credit schemes compare with micro-finance institutions (MFIs)?
As compared to the MFIs, NSFDC’s micro-credit schemes carry cheaper interest rate of 5% per annum (4% per annum for women) with a three-year repayment period.
Micro-credit loans up to R30,000 are extended for need-based income generating activities with subsidy up to R10,000 for BPL category.
What are NSFDC’s new initiatives for women beneficiaries?
Poverty reduction among poor scheduled caste households is the main focus of NSFDC’s schemes. NSFDC has two loan schemes namely Mahila Samriddhi Yojana and Mahila Kisan Yojana exclusively for women target group. The norms for coverage of women beneficiaries has been raised from 30% in physical terms only, to 40% both in physical and financial terms.
What steps has the NSFDC taken to improve skill development among the beneficiaries?
NSFDC sponsors skill-development training programmes for educated unemployed youth of the target group by providing 100% course fee and stipend of R1,000 per month to meet their incidental expenses during the training.
In addition to normal skill development training programmes in traditional economic activities, NSFDC has sponsored programmes in high technology areas.