Established in 2008, National Skills Development Corporation (Which is the NSDC full form) is a not-for-profit public limited company, incorporated under Section 25 of the Companies Act 1956. NSDC was set up by the Ministry of Finance, as an entity named ‘Public-Private Partnership’. NSDC’s primary focus is to promote skill development throughout the country. Funding provided by NSDC can be used for the working capital requirement for skill development activity and is not provided for buying or constructing any type of immovable property that includes land or building, etc.
Table of Contents :
Key Functions of NSDC
- Provides funding to build accessible and profitable vocational training centers
- Develop low-cost and high-quality business models
- Enables a support system that emphasizes quality assurance and information systems
- Directly training the trainer academies or via partnerships
- Provides funding support to companies, enterprises, and organizations that promote and provide skill training and development
- Develops suitable models to improve, support, and coordinate private sector initiatives
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‘Skill India Mission’ was launched with the aim to train over 40 crore people by 2022. It is meant to provide various vocational and certificate courses for Indian youth for a better livelihood. There are many courses offered under various programs mentioned below:
- Industrial Training Institutes (ITI)
- NSDC Fee-based courses
- Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
- NAPS – Apprenticeship Training
- Pradhan Mantri Kaushal Kendra (PMKK)
- Technical Intern Training Program (TITP)
- Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY)
- Jan Shikshan Sansthan
NSDC Funded Affiliation
|Interest Rate||6% per annum|
|Loans can be availed for||Training Infrastructure and Working Capital for skill development|
|Eligibility||Any entity but not limited|
|Repayment Period||7 years (including moratorium period)|
|Principal Moratorium Period||Up to 3 years|
|Interest Moratorium Period||Nil|
|Promoters Contribution||Min. 15% of investment requirement (not-for-profit entities)
Min. 25% of investment requirement (for-profit entities)
|Placement Guarantee Commitment||At least 70%|
Mentioned interest rates and contribution percentages are subject to change and depend on the sole discretion of the corporation and the Government of India.
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NSDC Schemes and Initiatives
Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is a scheme initiated by Government of India under Ministry of Skill Development & Entrepreneurship (MSDE) and implemented by NSDC. PMKVY enables Indian youth to undertake industry-related skill training that will help them to do job and earn money for better living.
Key components of PMKVY
- Recognition of Prior Learning (RPL)
- Short-term training programs
- Placement assistance for youth
- Special projects and continuous monitoring
- Kaushal and Rozgar Mela
- Standardized branding and communication
Pradhan Mantri Kaushal Kendra (PMKK)
Pradhan Mantri Kaushal Kendra (PMKK) promotes vocational training to develop skills among people of India. Under NSDC, Ministry of Skill Development and Entrepreneurship (MSDE) plans to establish Model Training Centres (MTCs) in almost every city and district of the nation.
NSDC shall offer concessional secured loan funding up to 75% of the project investment for each centre. The corporation offers funding to cover expenditure only concerned with the following:
- Training infrastructure that include purchase of plant, equipment and machinery
- Civil work such as setting up prefabricated structures and retrofit existing structures
- Training aid and associated items
Implemented by NSDC and funded by Ministry of Home Affairs, Udaan is a Special Industry Initiative (SII) for the youth of J&K. Udaan program fulfills the requirements of educated unemployed youth of J&K by providing skills and job opportunities. The prime focus lays on graduates, post graduates and 3 year diploma engineers. Udaan program has a target of fulfilling the needs of 40,000 youth from J&K in 5 years. Udaan program manages travel trips for youth and undertakes training in firms.
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Technical Intern Training Program (TITP)
In 2017, Technical Intern Training Program (TITP) was initiated by signing a Memorandum of corporation between the Welfare of Japan, the Government of India, the Ministry of Skill Development and Entrepreneurship (MSDE), the Ministry of Foreign Affairs, and the Ministry of Health. NSDC has been appointed as the implementing and monitoring agency for this specific program. NSDC has impaneled numerous organizations for sending skilled youth to Japan for technical internships and learning.
Facts about NSDC
- 462 NSDC Training Partners
- 11000 NSDC Training Centres
- 2100 Job roles
- 38 Sector skill councils
- 12 crore trained people
- 68 lakh placed professionals
Industry partnership and CSR
- 62 Partnerships
- 75 Training Partners Participation
- 43576 Trained (Short-term training)
- 25521 Placed (Short Term Training)
- 235+ Districts Covered
- 185 crore – CSR Commitment
- 38829 Certified (Recognition of Prior Learning)
Note: Data from their official website as per 31st Dec 2018
National Skill Development Corporation
301, 3rd Floor,
West Wing, World Mark 1,
Asset 11, Aerocity
New Delhi – 110037
Proposals/NSDC funding: email@example.com
NGO engagement: firstname.lastname@example.org
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Q. How can NSDC support my organization?
Ans. NSDC shall provide a loan depending on the type and nature of the proposal and the loan amount and interest rate will depend after the proposal is read by the corporation.
Q. What is the interest rate offered by NSDC for loans offered to applicants?
Ans. The interest rate offered by NSDC is as low as 6% per annum.
Q. I run a skilled training institute. Am I eligible to take a loan from NSDC?
Ans. Yes, you are eligible to take funding from NSDC and the amount shall depend on the nature of the proposal.
Q. How can NSDC train my employees?
Ans. NSDC cannot train your employees directly, however, they can offer support and coordinate for training while offering to fund.
Q. What is the eligibility criteria to apply for Non-Funding Partnership?
Ans. The business existence of an entity should be more than 5 years with decent growth.
Q. What are the entities that can become NSDC partners?
Ans. NSDC partners can be entrepreneurs, training institutes, partnerships, and non-funded partnerships.
Q. How to apply for an NSDC training partner?
Ans. Interest applicants can visit the NSDC office as every day NSDC conducts walk-ins from 4:30 pm – 5:30 pm for conversation and discussion with anticipated and prospective partners regarding their interest in becoming a training partner with NSDC.
Q. What is the process to get a license from NSDC?
Ans. The process of getting a license from NSDC is really simple as you just need to become a training partner with NSDC by walk-in for discussions and conversations.
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