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Mewat Development
Agency, Nuh |
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Lending Schemes of
National Minority Development Finance Corporation (NMDFC) New Delhi |
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Mewat
Development Agency is engaged in all round development of Mewat area
consisting of five blocks namely Nuh, F.P. Jhirka, Taoru, Punhana,
Nagina of Mewat district and one block Hathin of district Palwal of
Haryana State. The Govt. of India, Ministry of Minority Affairs has
declared Mewat district as Minority Concentrated District and in
response thereof, the Govt. of Haryana declared MDA as 2nd
State Channelsing Agency for distribution of loan under lending scheme
of National Minorities Development and Finance Corporation (NMDFC).
Initially, the NMDFC has released an amount of Rs. 2.26 crores to MDA
for Term Loan, Educational Loan and Rs. 3.00 crores for Micro-Financing.
Rs. 1.26 lacs for office operating cost. |
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Aims and
Objectives of NMDFC |
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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 and Parsis. 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. |
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Target Groups |
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The target
groups for NMDFC with regard to direct benefit are the persons belonging
to Minority Communities and living below double the poverty line. At
present, Minority Communities as per the National Minorities Commission
Act, 1992 are Muslims, Christians, Sikhs, Buddhists and Parsis. At
present families having annual income less than Rs. 40,000 in rural
areas and Rs. 55,000 in urban areas are categorized as below double the
poverty line. |
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Lending Schemes of
NMDFC Implemented by MDA |
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Term Loan Scheme |
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The Scheme
is for individual beneficiaries and is implemented through the M.D.A.
Under the Term Loan Scheme, projects costing up to Rs. 5.00 Lacs are
considered. NMDFC provides loan to the extent of 85% of the project cost
subject to a maximum of Rs. 4.25,000. The remaining cost of project is
met by the SCA/ beneficiary. However the beneficiary has to contribute
minimum of 5% of the project cost. 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:
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Agriculture and Allied |
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Technical Trade |
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Small Business |
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Artisan & Traditional
Occupations |
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Transport and Service Sector |
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Educational Loan
Scheme |
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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.
2.50 lacs i.e. Rs. 50,000/- 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 is
repayable maximum in 5 years after completion of the course. |
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Micro Finance
Scheme |
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The
scheme is for the member of Self-Help Groups and is implemented
through M.D.A.. 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. 25,000 (90% share of NMDFC, 10% share of
SCA/Beneficiary) per beneficiaries can be provided. Rate of interest
charged from beneficiaries is 5% p.a. on reducing balance. The
repayment period is maximum of 36 months. |
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Download |
Application
Form (English) |
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Application
Form (Hindi) |
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Current Status
of Loan Sanctioned/Disbursed |
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Beneficiaries List of Term Loan Loan Disbursed |
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Beneficiaries List of Education Loan
Disbursed |
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Beneficiaries List of
Micro Finance Loan
Disbursed |
