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.
Virasat Scheme
This scheme is part of the Term Loan scheme and is implemented with the objective to meet Working Capital and Fixed Capital requirements for purchase of equipment, tools, machineries, and raw materials.
Maximum loan of up to ₹10.00 lakh can be availed under Credit Line–1 & 2.
Simple interest of 5% p.a. is charged under Credit Line–1 and at 6% p.a. from male artisans under Credit Line–2.
A concession of 1% is provided to female artisans under both credit lines.
| Credit Line |
Income Level |
Max Loan Amount |
Interest (Male) |
Interest (Female) |
Moratorium Period |
Repayment Period |
| Credit Line–I |
Up to ₹3.00 lakh p.a. |
₹10.00 lakh |
5% |
4% |
6 months |
5 years |
| Credit Line–II |
Up to ₹8.00 lakh p.a. |
₹10.00 lakh |
6% |
5% |
6 months |
5 years |