NMDFC aims to provide concessional finance to eligible beneficiaries from the Minority community for self-employment and income generation activities
NMDFC TERM LOAN SCHEME
The National Minorities Development & Finance Corporation (NMDFC) is nonprofit Government Company under Section 25 of the Companies Act 1956 and was incorporated on 30 September 1994 by Ministry of Social Justice and Empowerment.
NMDFC is established to provide concessional finance to eligible beneficiaries from the Minority community for self-employment and income generation activities. Government of India has identified five communities viz. Muslims, Buddhists, Sikhs, Christians and Zoroastrians minorities at the national level on the basis of population census.
Term Loan Scheme
The National Minority Development FINANCE Corporation provides long term loan at a concessional rate of interest to assist members Minority Communities for setting up of their own Income Generating Units.
This scheme is for individual beneficiaries and is implemented through the SCAs (State Channelising Agencies).
NMDFC provides loan to the extent of 90% of the project cost subject to a maximum of Rs. 27.00 Lac.
The remaining cost of project is met by the SCA and the beneficiary. However the beneficiary has to contribute minimum of 5% of the project cost.
QUANTUM OF LOAN:
Maximum: Rs. 30 Lac.
In NMDFC Term Loan Scheme, projects costing up to Rs. 30.00 Lac are considered for financing.
RATE OF INTEREST:
FOR STATE CHANNELISING AGENCIES:
3% per annum.
FOR INDIVIUAL BENEFICIARY:
The rate of interest charged from the beneficiary is as below
For Male Beneficiary: 8% per annum.
For Female Beneficiaries: 6% per annum.
Note: Rate of Interest charged in all the above cases is calculated on reducing balance method
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Funding Pattern:
National Minorities Development & Finance Corporation: 90%.
State Channelising Agency: 5%.
Beneficiary Contribution: 5%
Repayment Period:
For SCA: 08 years.
For Beneficiary: Maximum 5 years in 20 installments.
Moratorium Period: 06 months.
Utilization Period: 03 months.
FOR MORE INFO REGARDING SUCH SCHEMES CONTACT SCA’S IN JAMMU KASHMIR
scas jammu
SCA NAME: JAMMU & KASHMIT SC/STs & OBCs DEVELOPMENT CORPORATION
ADDRESS:
7 Extension Shastri Nagar
Jammu 180004
Jammu 180004
JAMMU & KASHMIR
Phone - 91-191-2433229
SCAs Name - Jammu & Kashmir State Women's Development Corporation
ADDRESS:
Hall No. 6-B 2nd Floor Aquaf Complex
Gandhi Nagar,Jammu
Jammu & Kashmir
Gandhi Nagar,Jammu
Jammu & Kashmir
Phone - 91-191-2430321, 2439370
Email: jkwdc@rediffmail.com
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