National Scheduled Tribes Finance and Development
Corporation (NSTFDC) has signed refinance agreements with National
Cooperative Development Corporation (NCDC), seven Public Sector Banks
namely State Bank of India, Central Bank of India, Syndicate Bank, Dena
Bank, Vijaya Bank, Union Bank of India and UCO Bank; and seven Regional
Rural Banks namely Assam Gramin Vikash Bank (Assam), Baitarani Gramya
Bank (Odisha), Vananchal Gramin Bank (Jharkhand), Tripura Gramin Bank
(Tripura), Baroda Gujarat Gramin Bank (Gujarat), Dena Gujarat Gramin
Bank (Gujarat) and Sharda Gramin Bank (Madhya Pradesh) for providing
concessional loan to the people belonging to the Scheduled Tribes (ST)
community for enhancing their self employment opportunities.
The terms and conditions of the said agreements, inter-alia, include implementation of schemes by Banks/ NCDC in line with the lending norms of NSTFDC, timely repayment, arbitration mechanism, etc. NSTFDC has launched a scheme for facilitating professional and technical education including Ph.D. in India among tribals. Under the scheme titled “Adivasi Shiksha Rrinn Yojana (ASRY)”, loan up to Rs 5.00 lakh can be provided covering expenses towards fees, books, computer, study tours, boarding & lodging, etc. The interest chargeable is @ 6% p.a. Interest subsidy is available for the moratorium period. About 1.5 lakh people belonging to the Scheduled Tribes have benefited from the above mentioned agreements and ASRY up to 31.08.2012. Details of activites of NSTFDC is given below:
National Scheduled Tribes Finance and Development Corporation (NSTFDC), under the Ministry of Tribal Affairs, implements schemes for self-employment of Scheduled Tribes. Under the schemes, NSTFDC provides concessional financial assistance to individuals or groups of STs for undertaking Income Generating Activities.
The salient features of the major schemes of NSTFDC are:
• Term Loan scheme: NSTFDC provides Term Loan for viable projects costing up to Rs 10.00 lakh per unit. The financial assistance is extended up to 90% of the cost of the project and the balance is met by way of subsidy/ promoter`s contribution/ margin money. The interest rate chargeable is 6% p.a. for loan up to Rs 5.00 lakh and 8% p.a. for loan exceeding Rs 5.00 lakh.
• Adivasi Mahila Sashaktikaran Yojana (AMSY): This is an exclusive scheme for economic development of Scheduled Tribes women. Loans up to 90% for projects costing up to Rs 50,000/- are provided at highly concessional interest rate of 4% p.a.
• Micro Credit Scheme for Self Help Groups: The Corporation provides loans up to Rs 35,000/- per member and Rs 5.00 lakh per Self Help Group (SHG). The interest rate chargeable is 6% p.a.
• Assistance to TRIFED empanelled Artisans: NSTFDC provides concessional finance to tribal artisans empanelled with TRIFED towards working capital and purchase of project related assets. Financial assistance is provided up to Rs 50,000/- to individuals and up to Rs 5.00 lakh to SHGs (with a ceiling of Rs 35,000/- per member) and cooperative societies. The interest rate chargeable is 4% p.a. from ST women and 6% p.a. from SHGs and others.
The terms and conditions of the said agreements, inter-alia, include implementation of schemes by Banks/ NCDC in line with the lending norms of NSTFDC, timely repayment, arbitration mechanism, etc. NSTFDC has launched a scheme for facilitating professional and technical education including Ph.D. in India among tribals. Under the scheme titled “Adivasi Shiksha Rrinn Yojana (ASRY)”, loan up to Rs 5.00 lakh can be provided covering expenses towards fees, books, computer, study tours, boarding & lodging, etc. The interest chargeable is @ 6% p.a. Interest subsidy is available for the moratorium period. About 1.5 lakh people belonging to the Scheduled Tribes have benefited from the above mentioned agreements and ASRY up to 31.08.2012. Details of activites of NSTFDC is given below:
National Scheduled Tribes Finance and Development Corporation (NSTFDC), under the Ministry of Tribal Affairs, implements schemes for self-employment of Scheduled Tribes. Under the schemes, NSTFDC provides concessional financial assistance to individuals or groups of STs for undertaking Income Generating Activities.
The salient features of the major schemes of NSTFDC are:
• Term Loan scheme: NSTFDC provides Term Loan for viable projects costing up to Rs 10.00 lakh per unit. The financial assistance is extended up to 90% of the cost of the project and the balance is met by way of subsidy/ promoter`s contribution/ margin money. The interest rate chargeable is 6% p.a. for loan up to Rs 5.00 lakh and 8% p.a. for loan exceeding Rs 5.00 lakh.
• Adivasi Mahila Sashaktikaran Yojana (AMSY): This is an exclusive scheme for economic development of Scheduled Tribes women. Loans up to 90% for projects costing up to Rs 50,000/- are provided at highly concessional interest rate of 4% p.a.
• Micro Credit Scheme for Self Help Groups: The Corporation provides loans up to Rs 35,000/- per member and Rs 5.00 lakh per Self Help Group (SHG). The interest rate chargeable is 6% p.a.
• Assistance to TRIFED empanelled Artisans: NSTFDC provides concessional finance to tribal artisans empanelled with TRIFED towards working capital and purchase of project related assets. Financial assistance is provided up to Rs 50,000/- to individuals and up to Rs 5.00 lakh to SHGs (with a ceiling of Rs 35,000/- per member) and cooperative societies. The interest rate chargeable is 4% p.a. from ST women and 6% p.a. from SHGs and others.
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