National Minorities Development & Finance Corporation is a Govt. Company under section 8 of Companies Act 2013, under the administrative control of Ministry of Minority Affairs, Government of India. The Corporation has been set up to promote economic development for the benefit of "Backward Sections" amongst the Minority Communities i.e. Muslims, Christians, Sikhs, Buddhists, Parsis & Jains, preference being given to the occupational group and women.
Based on annual income, target group bifurcated into two credit lines as follows:
- Credit Line-1, the benefits are available for persons having annual family income of upto Rs.3.00 lakhs.
- Credit Line-2, the benefits are available to persons with annual family income of upto Rs. 8.00 lacs.
NMDFC implements its schemes & programs through State Channelizing Agencies (SCAs) nominated by the respective State Governments & Banking Partners.
Under this scheme, credit is extended for financing economically viable income generation ventures. Loan of upto Rs. 20 lacs under Credit Line-1 and upto Rs. 30 lacs under Credit line -2 is extended to beneficiaries at 6% p.a. & 8% p.a. respectively. Further, concession of 2% is extended to women beneficiaries under Credit Line-2.
| Particulars |
Credit Line-I |
Credit Line-II |
| Max Credit Up To |
Rs. 20.00 Lacs |
Rs. 30.00 Lacs |
| Rate of Interest for Male Beneficiary |
6% |
8% |
| Rate of Interest for Female Beneficiary |
6% |
5% |
| Moratorium Period |
6 months |
6 months |
| Repayment Period |
5 yrs |
5 yrs |