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Over Rs. 131 Crore Disbursed and over 32,000 People Benefitted by National Minorities Development and Finance Corporation Under the Term Loan and Micro Financing Schemes During the First Half of the Current Fy 12-13

New Delhi: October 19,2012

The National Minorities Development and Finance Corporation ( NMDFC ), working under the aegis of the Ministry of Minority Affairs, has disbursed a total amount of Rs. 131.25 crore during the first half of the current Financial Year 2012-13 under its Term Loan and the Micro Financing schemes. The number of beneficiaries under these 2 schemes during the same period has also crossed 32 thousand and the actual number of these beneficiaries is 32,163.


The breakup of these schemes for the first half of the FY 12-13 is as follows:


1. Term Loan scheme:
Cumulative funds disbursed up to September : Rs. 77 crore;
Total number of beneficiaries : 8,053.


2. Micro Financing:
Cumulative funds disbursed up to September : Rs. 54.25 crore
Total number of beneficiaries : 24,110.


NMDFC provides Term Loans to individuals through its State Channelising Agencies (SCAs), which are nominated by the respective State /UT Governments. Term loan up to Rs. 5.0 Lakh is available at an interest rate of 6% p.a.


NMDFC also provides Micro Credit to the poorest of poor among the Minorities, organised into Self Help Groups (SHGs) through SCAs and also through established NGOs. An amount of Rs.25, 000 per SHG is available at an interest rate of 5% p.a.


NMDFC also extends Educational Loan up to maximum of Rs.2.5 Lakhs to individuals through its SCAs for pursuing technical and professional courses. The Educational Loan is available at an interest rate of 3% p.a. NMDFC also runs promotional schemes like Vocational Training, Marketing Support and Mahila Samridhi Yojana for the benefit of its target groups through the SCAs as well as NGOs.


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