Mewat Development Agency, Nuh

Lending Schemes of N.M.D.F.C, New Delhi.

The Govt. of India, Ministry of Minority Affairs has declared Nuh district as Minority Concentrated District and in response thereof, the Govt. of Haryana declared MDA as 2nd State Channelising Agency for distribution of loan under lending scheme of National Minorities Development and Finance Corporation (NMDFC).

AIMS AND OBJECTIVES OF NMDFC

National Minorities Development and Finance Corporation (NMDFC) under the aegis of Ministry of Minorities Affairs, Government of India, is working to promote economic development of the notified minorities i.e. Muslims, Christians, Sikhs, Buddhists, Parsis and Jain. The main objective of NMDFC is to promote economic and developmental activities for the benefit of “Backward Section” amongst the minorities, preference being given to the occupational groups and women.

TARGET GROUPS

The target groups for NMDFC with regard to direct benefit are the persons belonging to Minority Communities living below double the poverty line. At present, Minority Communities as per the National Minorities Commission Act, 1992 are Muslims, Christians, Sikhs, Buddhists, Parsis and Jains. As per revised norms w.e.f. 24/05/2013 families having annual income less than Rs. 81,000 in rural areas and Rs. 1,03,000 in urban areas are categorized as below double the poverty line

A. LENDING SCHEMES OF NMDFC IMPLEMENTED BY MDA.
I) TERM LOAN SCHEME

The Scheme is for individual beneficiaries and is implemented through the M.D.A.
Under the Term Loan Scheme, projects costing up to Rs. 10.00 Lacs may be considered. NMDFC provides loan to the extent of 90% of the project cost. The remaining cost of project is met by the SCA/ beneficiary. However the beneficiary has to contribute minimum of 5% of the project cost. Generally Rate of interest charged from beneficiaries is 6% p.a. on reducing balance.

Assistance under Term Loan Scheme is available for any commercially viable and technically feasible venture which for the sake of convenience are classified into following sectors:

  • a) Agriculture & Allied
  • b) Technical Trade
  • c) Small Business
  • d) Artisan & Traditional Occupations
  • e) Transport and Service sector.
  • II) EDUCATIONAL LOAN SCHEME

    The scheme is for individual beneficiaries and is implemented through M.D.A. NMDFC has introduced the scheme of Educational Loans with the objectives to facilitate job-oriented education amongst the weaker section of the minorities. The scheme envisages maximum loan of Rs. 10.00 lacs i.e. Rs. 2.00 lacs every year (90% share of NMDFC, 10% share of SCA/Beneficiary) for pursuing professional & technical courses of duration not exceeding 5 years. Rate of interest charged from beneficiaries is 3% p.a. on reducing balance. The loan repayment will be started 6 months after completion of the course or getting a job whichever is earlier.

    III) MICRO-FINANCE SCHEME

    NMDFC launched scheme of Micro-Financing in 1998 on the pattern of Grameen Bank of Bangladesh and Rashtriya Mahila Kosh under the Department of Women and Child Development in our own country. The scheme envisages micro credit to poorest among poor through selected NGOs of proven bona fide and their network of Self Help Groups. It is an informal loan scheme which ensures quick delivery of loan at the door steps of the beneficiaries with a constant follow up. It also envisages a pre-requisite that the beneficiaries are first organized into Self Help Groups and get into habit or effecting regular saving, however small. Under the scheme, loan upto maximum of Rs. 50,000 (90% share of NMDFC, 10% share of SCA/Beneficiary) per beneficiaries can be provided. Rate of interest charged from beneficiaries is 7% p.a. on reducing balance. The repayment period is maximum of 36 months.

    The NMDFC, Delhi has disbursed funds to MDA as under:-

    Year

    Amount (Rs. in lacs)

    2009-10

    526.00

    2012-13

    200.00

    2013-14

    150.00

    2014-15

    100.00

    2015-16

    110.00

    Total

    1086.00

    The MDA has extended loans to beneficiaries under the schemes as given below:

    Year

    Term Loan

    Educational Loan

    Micro-Finance

    Total amount

    Total No. of Benef.

    Amount

    No. of Benef.

    Amount

    No. of Benef.

    Amount

    No. of Benef.

    2010-11

    58.33

    136

    24.91

    52

    83.24

    188

    299.57

    1340

    299.57

    1340
    (214 SHG)

    2011-12

    26.16

    55

    6.35

    15

    32.51

    70

    109.8

    488

    109.8

    488
    (58 SHG)

    2012-13

    19.12

    28

    5.35

    12

    0

    0

    24.47

    40

    74.92

    333

    74.92

    333
    (45SHG)

    2013-14

    17.73

    37

    7.75

    13

    0

    0

    25.48

    50

    0

    0

    0

    0

    222.3

    602

    222.3

    602
    (67 SHG)

    2014-15

    4.02

    9

    5.83

    8

    0

    0

    9.85

    17

    0

    0

    0

    0

    83.25

    185

    83.25

    185
    (21 SHG)

    2015-16

    12.85

    17

    9.89

    11

    0

    0

    22.74

    28

    0

    0

    0

    0

    2016-17

    1.43

    3

    6.12

    5

    0

    0

    7.55

    8

    0

    0

    0

    0

    Total

    139.64

    285

    66.20

    116

    789.84

    2948

    995.68

    3349
    (405 SHG)

    After implementing the scheme, the MDA has repaid to NMDFC Rs. 748.20 Lacs as under:-

    Detail of Repayments to NMDFC, New Delhi.

    S.N.

    Quarter ending

    Micro-Finance

    Term Loan

    Total

    1

    31/03/2011

    1885813

    74919

    1960732

    2

    30/06/2011

    2474381

    171475

    2645856

    3

    30/09/2011

    2691791

    2324299

    5016090

    4

    31/12/2011

    2853500

    255000

    3108500

    5

    31/03/2012

    3233421

    252379

    3485800

    6

    30/06/2012

    3250113

    405987

    3656100

    7

    30/09/2012

    3622429

    646704

    4269133

    8

    31/12/2012

    2658221

    243706

    2901927

    9

    31/03/2013

    3095664

    722859

    3818523

    10

    30/06/2013

    3119294

    343478

    3462772

    11

    30/09/2013

    3574375

    411375

    3985750

    12

    31/12/2013

    3574375

    299390

    3873765

    13

    31/03/2014

    3693597

    416188

    4109785

    14

    30/06/2014

    3574375

    420876

    3995251

    15

    30/09/2014

    2616953

    438029

    3054982

    16

    31/12/2014

    2661387

    556219

    3217606

    17

    31/03/2015

    3132825

    538641

    3671466

    18

    30/06/2015

    3127644

    570714

    3698358

    19

    30/09/2015

    3127643

    543802

    3671445

    20

    31/12/2015

    2897270

    561745

    3459015

    21

    31/03/2016

    2580602

    583223

    3163825

    22

    30/06/2016

    0

    593412

    593412

    23

    Total

    63445673

    11374420

    74820093

    Application form Education Loan
    Application Form Term Loan
    Please see more details at www.nmdfc.org/