Various Loan Schemes for Minorities Self-Employment
National Minorities Development and Finance Corporation (NMDFC), a Central Public Sector Enterprise under this Ministry provides concessional loans to minorities for self-employment and income generating ventures, through the State Channelising Agencies (SCAs) nominated by the respective State Governments/UT Administration.For availing assistance under NMDFC schemes, the annual family income eligibility criterion under Credit Line-1 is Rs.81,000 for rural areas and Rs.1.03 lakh for urban areas. Higher annual family income eligibility criterion of upto Rs.6.00 lakh has also been introduced as Credit Line-2, for increasing coverage of beneficiaries under NMDFC schemes. The details of thelending schemes and loan limit therein is as under:-
1.Term Loan:- Maximum Loan of up to Rs.20.00 Lakh per beneficiary is available under Credit Line-1 at an interest rate of 6% per annum. Higher loan of maximum up to Rs.30.00 Lakh per beneficiary is available under Credit Line-2 at an interest rate of 8% per annum for male beneficiaries and 6% per annum for female beneficiaries.
2.Micro Finance:- Maximum loan upto Rs.1.00 lakh per SHG member is available under Credit Line -1 at an interest rate of 7% per annum. Higher loan of maximum upto Rs.1.50 lakh per SHG member is available under Credit Line-2 at an interest rate of 10% per annum for male beneficiaries and 8% per annum for female beneficiaries..
3. Education Loan:- The Educational Loan of upto Rs.15.00 lakh (Rs.20 lacs for courses abroad) is available at an interest rate of 3% per annum for pursuing technical and professional courses with maximum course duration of 5 years. Higher Educational Loan of upto Rs.20.00 lakh (Rs.30 lakh for courses abroad) under Credit Line-2 is available at an interest rate of 8% per annum for male candidates and at 5% per annum for female beneficiaries.
4.Mahila Samridhi Yojana:- Skill development training is imparted to group of women in women friendly trades. Training period is of maximum 6 months with training and raw material cost of upto Rs.1,500 per women and stipend @ Rs.1,000 per women.
During the period of training, the women are formed into Self Help Group, followed by infusion of micro-credit maximum upto Rs.1.00 lakh per member for the purpose of using the skill developed during the training, for income generation activities.
This information was given by Shri Mukhtar Abbas Naqvi, the Minister of State (IC) for Minority Affairs, in reply to a question in Rajya Sabha today.
Ministry of Minority Affairs 29-November, 2016