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Credit Based Schemes For SC – Mahila Samriddhi Yojana

Credit Based Schemes For SC - Mahila Samriddhi Yojana

Details

A Micro finance scheme by Ministry of Social justice and Empowerment for Women of Scheduled Caste Category with a rebate in interest.

Unit Cost

Upto Rs 1,40,000/-

Quantum of Assistance

up to Rs 90% of the Project Cost

Interest Rate per annum chargeable to

  1. SCAs – 1 %
  2. Beneficiaries – 4 %

Benefits

Financial Assistance

Up to 90% of Project Cost of Rs. 1,40,000 for small income generating activities at Interest rates chargeable at 4%

Repayment Period

Within 3 and ½ years, in quarterly installments from date of each disbursement including the moratorium period

Moratorium Period

3 months.

Note

On repayment of loans under Mahila Samriddhi Yojana, through the concerned SCAs, the eligible beneficiaries can avail any loan under NSFDC scheme.

Eligibility

The scheme is for entrepreneurs of the Scheduled Caste Category.

Application Process

Offline

The interested eligible person shall contact the nearest Channeling Agency (https://nsfdc.nic.in/channel-patrners/ ) .

Indicative Format

  1. The loan applications are to be submitted by the eligible target group (Scheduled Castes persons having annual family income up to Rs. 3.00 lakhs ) to the District Offices of State Channelizing Agencies (SCAs).
  2. The District Offices of SCAs/CAs forward these applications, after scrutiny, to their Head Offices. The viability of the project proposals are appraised by the SCAs and the viable projects are forwarded to NSFDC along with their recommendations for sanction.
  3. Eligible target group can also submit their loan application to other Channelising Agencies of NSFDC such as Regional Rural Banks/ Public Sector Banks/ NBFC-MFIs etc. with whom NSFDC has signed Memorandum of Agreements.
  4. The said project proposals are appraised by the Project and Banking Desk. The appraisal report is submitted to the Project Clearance Committee (PCC) for their concurrence.
  5. The proposals which are found to be in order are recommended for sanction. After sanction, Sanction Letters called as Letter of Intents(LOIs), along with Terms & Conditions are issued to the SCAs/ RRBs/ Public Sector Banks/ NBFC-MFIs etc. for acceptance.
  6. After acceptance of the terms and conditions of the sanction and fulfillment of Prudential Norms, as applicable, funds are disbursed to the SCAs/ RRBs/ Nationalized Bank for onward disbursement to the beneficiaries.
  7. The disbursement of funds is made by NSFDC on receipt of demand from the SCAs/ RRBs/ Public Sector Banks/ NBFC MFIs. The loans are to be repaid by the beneficiaries as per the repayment schedule stipulated by the SCAs/CAs

Documents Required

The applicants are required to submit application in NSFDC’s format with details of business and copies of caste, income and experience etc. at the channelising agency office.

Indicative Documents

  1. Aadhaar Card
  2. Income certificate
  3. Caste certificate
  4. Bank account statement

(Except for the headline, this story has not been edited by GOVT.in staff and is published from a syndicated feed.)


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