The National Minorities Development & Finance Corporation (NMDFC) was incorporated on 30th September 1994, with the objective of promoting economic activities amongst the backward sections of notified minorities. To achieve its objective, NMDFC is providing concessional finance for self-employment activities to eligible beneficiaries belonging to the minority communities, having a family income Rs. 81,000/-p.a. in Rural Areas and Rs. 1,03,000/- p.a. in Urban Areas. As a special initiative, a new annual family income eligibility of up to Rs. 6.00 lakh per annum has been introduced with effect from September, 2014. This category will get concessional credit at a high rate of interest. The authorised share capital of NMDFC which stood Rs.650 crore in 2004 now stands at Rs.1500 crore.

Term Loan

Scheme Details

The scheme is for individual beneficiaries and is implemented through the SCAs. Under the Term Loan Scheme, projects costing up to Rs. 20.00 Lakhs are considered for financing. NMDFC provides loan to the extent of 90% of the project cost subject to a maximum of Rs. 18.00 lakh. 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. The rate of interest charged from the beneficiary is 6% p.a. on reducing balance method. For higher income group of up to 6.00 lakh, the rate of interest is 8% for males and 6% for females.
Scheme Guidelines

The steps for provision of term loan like collecting applications from the perspective beneficiaries , short-listing the applications through desk scrutiny and physical verification, interviewing the short-listed applicants by the Selection Committee ( as per the existing procedure), selection of beneficiaries, sanction of loan and disbursement of loan taken up through the campaign approach.

FAQ:

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Disbursement under Term Loan (up to 31.12.2014)

Awards/Beneficiary Lists

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Micro Financing

Secheme Deatils

The scheme envisages micro–credit to the poorest among the poor through NGOs of proven bonafide and their network of Self Help Groups (SHGs). It is an informal loan scheme which ensures quick delivery of loan at the door steps of the beneficiaries. Under this scheme, small loans up to a maximum of Rs. 1.00 lakh per member of SHG are provided through the NGOs / SHGs. The scheme is implemented through the SCAs as well as the NGOs. Funds are given to the NGOs /SCAs at an interest rate of 1%, which further on-lend to the SHGs, at an interest rate not more than 7% p.a. The repayment period under the scheme is maximum of 36 months. For higher income group of Rs. 6.00 lakh per annum, the rate of interest is 10% for males and 8% for females.

Scheme Guidelines

The eligibility conditions for the Minority members, Self Help groups, NGOs, loan amount, interest rate etc. would be as per the scheme of Micro financing of NMDFC.

FAQ:

Click here to see FAQ

Disbursements under Micro Finance (Up to 31.12.2014)

Awards/Beneficiary Lists

Click here to see Awards/Beneficiary Lists

Performance & Statistics

• Performance
  • Term Loan (as on 31.12.2014) Download(124 KB)
  • Micro Financing (as on 31.12.2014) Download(364 KB)
• Statistics
  • State wise disbursements under Term Loan Scheme (as on 31.12.2014) Download(124 KB)
  • State wise disbursements under Micro Credit Scheme (as on 31.12.2014) Download(64 KB)

• "Minimum Government, Maximum Governance" — Self Declaration/ self certification/ self attestation of documents by the applicants in schemes/ programmes of Ministry Download(624 KB)