NSFDC – Schemes, Features, Certificates, Courses & Training Partners

National Scheduled Castes Finance and Development Corporation (NSFDC) is a not-for-profit and fully-owned government initiated entity that is registered under Section 25 of the Company Act 1956. The primary objective of the corporation is to provide funds for the socio-economic development of people falling in Scheduled caste segment of the society. NSFDC provides finances to families earning Rs. 3 lakh per annum and residing in both rural and urban areas.

The corporation provides funding assistance with the help of State Channelizing Agencies (SCAs) which are nominated by channel partners that include Cooperative Banks and Societies, Public Sector Banks, Regional Rural Banks (RRBs), NBFC-MFIs and by the respective State Government. These channel partners should have signed a Memorandum of Agreement (MOA) with NSFDC so that they can offer financial assistance to schedule caste families authentically.

Schemes offered by NSFDC

• Educational Loan Scheme (ELS)
• Green Business Scheme (GBS)
• Laghu Vyavsay Yojana (LVY)
• Mahila Kisan Yojna (MKY)
• Mahila Samriddhi Yojana (MSY)
• Micro Credit Finance (MCF)
• Nari Arthik Sashaktikaran Yojana (NASY)
• Schemes to be implemented through NBFC-MFIs
• Shilpi Samriddhi Yojana (SSY)
• Term Loan (TL)
• Vocational Education and Training Loan Scheme (VETLS)

NSFDC organizes and undertakes various skill development training programs.

Also Read: NSDC – Schemes, Functions, Courses, Funded Affiliation

Features of Skill Development Programmes offered by NSFDC

• No income criteria for candidates falling under the target group
• Trainees are offered Rs. 1500 as stipend during the training period and are provided free training
• To avail stipend, candidates should have 90% attendance each month
• Post-training, candidates are provided placement assistance and entrepreneurial guidance to start their own business
• Financial assistance is provided by NSFDC in starting new ventures by trainees
• Skill training is provided in specialized sectors that include retail, healthcare, hospitality, plastic, computer, and apparel technology, food processing, etc.
• Special preferences are given to universities and Government /Semi-Government institutions
• NSFDC provides funds to trainees via Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs)
• NSFDC will sponsor programs that are approved by the respective Sector Skill Council (SSC)

List of Certificates, Courses, and Schemes offered under NSFDC

• Automobile Repairs and Servicing
• Beauty Parlour
• CAD using Auto CAD
• Certificate Course in Hardware and Networking
• Certificate Course in MS Office and Internet
• Certified Electronic Assembly
• CNC Lathe Machine Operator
• CNC Milling and Turning Programming and Operation
• Diploma in Hardware and Networking
• Entrepreneurship Development
• Fruit Processing
• Garment Construction Course
• Laboratory Technician
• Machine Mechanic Course Desktop
• Mobile Phone Repairs
• Motor Rewinding
• Nursing
• Operator
• Pattern Cutting Master Course
• Photography and Videography
• Plastic Extrusion and Injection Machine Operator
• Production Supervisor and Quality Control
• Publishing and MS Office
• Repairing of Refrigerator and Air Conditioner
• Repairing, Maintenance of Diesel Engine and Power Tiller
• Sewing Machine Operator Course
• Soft Toys making
• Welding and Fabrication, Electrician, etc.

Term Loan can be Availed for the Following Activities

Also Read: What are the government loan schemes available for small scale industry setup?

List of Training Partners

• Apparel Training & Design Centre (ATDC)
• Ashok Leyland Institute of Droving Training & Research
• Beauty & Wellness Sector Skill Council
• Central Institute of Plastics Engineering & Technology (CIPET)
• Central Leather Research Institute
• Domestic Workers Sector Skill Council (DWSSC)
• Don Bosco Technology Society
• Electronics Corporation of India Ltd. (ECIL)
• Electronics Sector Skills Council of India
• Furniture & Fittings Skill Council (FFSC)
• Guru Angad Dev Veterinary & Animal Science University
• Handicrafts and Carpet Sector Skill Council (HCSSC)
• Indian Plumbing Skills Council (IPSC)
• Media & Entertainment Skills Council
• National Institute for Entrepreneurship & Small Business (NIESBUD)
• Nettur Technical Training Foundation (NTTF)
• Rubber Sector Development Council
• Textiles Sector Skill Council

Eligibility Criteria

The eligibility criteria under NSFDC is as follows:

• Applicant should belong from a Scheduled Caste community
• Annual family income to be less than Rs. 3 lakh, both in rural or urban areas
• Applicant should have secured admission in a course operated or supported by a Ministry, Department,
• Organization of the Government. The course should either be supported by National Skill Development Corporation or State Skill Missions or Corporations

FAQs

Q. What is NSFDC?

Ans. National Scheduled Castes Finance and Development Corporation (NSFDC) is a not-for-profit government initiative to provide funding to people from Schedule Caste and organize training programmes for them to learn and earn for better livelihood.

Q. What is the age criterion to apply for loan from NSFDC?

Ans. There is no age criterion to apply for a loan from NSFDC. However, if the applicant is minor, his/her parents need to submit the supporting documents and once the applicant turns 18 years or above, he/she can provide a letter of ratification to NSFDC. Regarding the upper limit, respective agency has the sole discretion.

Q. Is there any preference given to women in availing loan?

Ans. Yes, women are given preference as 40% of total funds are allocated to them. Even the interest rate offered is relatively less, as compared to male applicants.

Q. How can I contact NSFDC?

Ans. You can contact NSFDC at the following address:
14th Floor, SCOPE Minar,
Core 1 & 2, Laxmi Nagar,
Delhi – 110 092

Q. Are there some separate loan schemes for women entrepreneurs?

Ans. Yes, there are 2 exclusive schemes for women beneficiaries that include Mahila Samriddhi Yojana and Mahila KisanYojana.

Also Read: What are options for women to avail a collateral-free loan for running a small business?

Q. How does NSFDC provide loans?

Ans. NSFDC provides loan with the help of financial institutions, such as Public Sector Banks (PSBs), Regional Rural Banks (RRBs), State Scheduled Castes Development Corporations (SCDCs), etc.

Q. What is the quantum of finance available?

Ans. The loan amount offered under this scheme is to meet 100% expenses on components subject to the following ceilings; For courses of duration up to 2 years: Financing offered is up to Rs. 4 lakh.

Q. What is the rate of interest on the loan?

Ans. The interest rate charges are 1.5% per annum from the channelising agency that shall further charge 4% per annum from the beneficiaries. For women, an interest rebate of 0.5% shall be offered under this scheme.

Q. What is the repayment period?

Ans. The repayment tenure of loan under NSFDC is maximum up to 7 years, including a moratorium period of 6 months that shall be repaid in quarterly instalments.

Q. Are there any pre-payment charges for the loan?

Ans. No, there are no pre-payment charges which means the borrower can repay the loan any time within the repayment tenure without any additional cost.

Q. In case there is a grievance/complaint, regarding NSFDC’s loan, who do we contact?

Ans. In case of any grievance or complaint, an applicant can contact the below-mentioned authorities:

The Grievance Redressal Officer, NSFDC, Delhi
The Chief Vigilance Officer (CVO), NSFDC, Delhi
The Chairman cum Managing Director, NSFDC, Delhi