Central GovernmentVerified
Micro Finance Scheme of NMDFC
Ministry: Ministry Of Minority Affairs
Under the scheme, an amount of Rs. 1 lakh under credit Line-1 & upto Rs. 1.5 lakh under Credit Line-2 is extended to each member of SHG (belong to Minority communities) at interest rate of 7% & 10% respectively. Concession of 2% is extended to women beneficiaries under Credit Line-2.
Last verifiedToday
About This Scheme
Under this Scheme of NMDFC, credit is extended to the members of the Self Help Groups (SHGs), predominantly comprising of the minority women scattered in remote villages and urban slums, who are not able to take advantage of the formal banking credit. Under the scheme, an amount of ₹1,00,000/- under credit Line-1 & upto ₹1,50,000/- under Credit Line-2 is extended to each member of SHG at interest rate of 7% & 10% respectively. Concession of 2% is extended to women beneficiaries under Credit Line-2.
Benefits
Concessional Credit to the beneficiaries among minority communities.
Eligibility
Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.
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Required Documents
- ✦Group Resolution authorizing loan availed under NMDFC scheme.
- ✦List of Group Members with minority status and Aadhaar numbers.
- ✦Photographs of all members.
- ✦Minority Certificate/Self-declaration for each minority member.
- ✦Income Certificate for each member issued by competent authority.
- ✦Proof of Residence: Aadhaar card, voter ID, or ration card.
- ✦Bank Account Proof: SHG group account (Aadhaar linked) and individual passbooks.
- ✦Record of thrift and credit activity (for at least six months).
- ✦Meeting Register, Savings Ledger, and Loan Ledger maintained by SHG.
- ✦Business Activity Plan or list of proposed income-generating activities.
- ✦Affidavit/Self-declaration that no other microfinance assistance is being received.
✦ Required ◦ Optional
How to Apply
IIn-person
NMDFC implements its schemes & programs through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA ) nominated by the respective State Governments & Banking Partners (Presently through Canara Bank & Punjab Grameen Bank).
Quick Info
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- Central Government