MICRO FINANCE

National Minorities Development and Finance Corporation (NMDFC) has launched the Micro Financing Scheme to provide concessional finance to the minorities for self-employment or income generation activities. Under this Micro Financing Scheme, assistance in the form of loan will be provided to the economically weaker sections of minorities communities for starting income generation activities. In this article, we look Micro Financing Scheme of NMDFC in detail.

Purpose of Loan

The micro-credit can be availed by the members of weaker sections amongst the Minorities organized into Self Help Groups (SHGs) for augmenting income generation activities. The activity can be undertaken by the individual member of the SHGs or by the group. The list of income-generating activities are given below:

Eligibility Criteria

Individual

The eligibility criteria of an individual to apply for Micro Financing scheme under NMDFC are listed below:

Note: Highest priority will be given to women and occupational groups belonging to the minority community.

NGO

The eligibility criteria of NGO for implementing the microfinance scheme under NMDFC are given below:

Documents Required

Promoters

For Registered Office

Other Details

Deliverables

Service Charges

Rs 29999 (Government charges extra)*

*Cost of Stamp paper as per Government rules

Service Charges

Rs 29999 (Government charges extra)*

*Cost of Stamp paper as per Government rules