Entrepreneurship and development

Mahila Samridhi Yojana

Objectives

To provide Micro Finance to women entrepreneurs belonging to the target group.

Salient Features of the Scheme

1. Maximum loan limit per beneficiary : Rs.60, 000/-
2. Maximum number of women in one SHG : 20

Eligibility of the Beneficiary

Women belonging to the Backward Classes as notified by Central / State Govt. from time to time and living below double the poverty line. The annual family income of the women is fixed as Rs.3.00 Lakh. The SCAs/Banks are requested to release atleast 50% of total funding to persons with annual family income upto Rs.1.50 Lakh.

Pattern of Finance

1. NBCFDC loan : 95%
2. SCA/Beneficiary contribution : 05%

Utilization Period : 4 months from date of disbursement

Rate of Interest to Beneficiary : 4% p.a.

Repayment : Loan is to be repaid in quarterly instalments within 48 months (including the moratorium period of six months on the recovery of principal).

New Swarnima Special Scheme for Women

Objective

The Objective of this scheme is to inculcate the spirit of self-dependence among the eligible Women of Backward Classes living below the poverty line. The salient features of the "New Swarnima" Term loan are:

• Maximum Loan limit is Rs. 1,00,000/- per beneficiary and interest will be charged @ 5% p.a.
• The beneficiary women is not required to invest any amount of her own on the projects upto cost of Rs.1,00,000/.

Eligibility

• The women belonging to Backward classes as notified by the Central/ State Governments from time to time shall be eligible for loan under this scheme.
• The annual family income of the rural applicant should be below Rs. 3,00,000/- . The SCAs/Banks are requested to release atleast 50% of total funding to persons with annual family income upto Rs.1.50 Lakh.

Pattern of Financing

Rate of Interest

• Rate of Interest is 5% p.a.

Repayment Period

• Depends upon nature of scheme however the maximum period of repayment is 10 years.

Source " National Backward Classes Finance & Development Corporation (NBCFDC)

Assistance to Voluntary Organizations for Welfare of OBCs

Objective

The aim of this scheme is to involve the Voluntary Organization and National Backward Classes Finance and Development Corporation (NBCFDC) to improved educational and socio-economic conditions of the target group i.e. OBCs/DNTs/EBCs, with a view to upgrade their skill to enable them to start income generation activites on their own or get gainfully employed in some sector or the other.

Target Group and Eligibility Criteria of OBCs

The NGOs will select only such OBCs as indicated below:-

• The beneficiaries should belong to OBCs as per notified list in the Central List of Backward Classes.
• The beneficiaries whose parents / guardians income from all sources including the income of the beneficiary does not exceed Rs. 1.00 Lakhs annually will be eligible for availing the benefit under the scheme.

The quantum of assistance shall be determined in each case on merit.  The Government of India may, however, meet 90% of the approved expenditure of the training. Presently, GIA is given to the extent of about Rs.3.00 lakh to an NGO on an average for imparting training to 50 beneficiaries, i.e. Rs.6,000/- for the training of a person.  This includes cost of manpower, training material, rent, stationery, etc.

As per revised scheme, all applications as new cases of NGOs under the scheme are to be applied to National Backward Classes Finance and Development Corporation (NBCFDC) directly.   All ongoing cases of NGOs under the scheme are to be applied as usual to the Ministry's online NGO Portal

Source: Ministry of Social Justice and Empowerment