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.
