National Scheduled Castes Finance and Development Corporation (NSFDC) was incorporated on 08.02.1989 as a Company ‘not for profit’ under Section 25 of Companies Act, 1956. Consequent upon the introduction of the Companies Act, 2013, NSFDC is now a Section 8 Company (not for profit) under the new Act. NSFDC is a Schedule ‘C’ Central Public-Sector Enterprise (CPSE) under the Ministry of Social Justice & Empowerment (MOSJ&E) and wholly owned by the Government of India. The main objective of NSFDC is economic empowerment of persons belonging to scheduled castes living below Double the Poverty Line (DPL) limit presently, annual family income upto Rs.98,000/- for rural areas and Rs.1,20,000/- for urban areas].
To be the leading catalyst in systematic reduction of poverty through socio-economic development of Scheduled Castes living below double the poverty line, working in an efficient, responsive and collaborative manner with channelizing agencies and other development partners.
Promote prosperity among Scheduled Castes by improving flow of financial assistance and through Skill Development and other innovative initiatives.
NSFDC provides loans up to 90% of unit cost (except that in VETLS where it is 100%) and remaining share is provided by Channelizing Agencies and in some cases partly by promoters as per the Lending Policy. Except in ELS and VETLS, in all other schemes, subsidy @ Rs. 10,000/- or 50% of the unit cost, whichever is less, per unit is provided by State Channelizing Agencies from Special Central Assistance to Scheduled Caste Sub-Plan (SCSP) to the Below Poverty Line (BPL) beneficiaries.
Non-Credit Based Scheme (Skill Development Training Programme)
- NSFDC sponsors Skill Development Training Programmes for unemployed persons of the SC target group, whose annual family income is below Double the Poverty Line Income limit (presently upto Rs. 98,000 in rural areas and Rs.1,20,000 in urban areas).
- The trainees are also provided placement assistance and/or entrepreneurial guidance to start their own ventures. They are also encouraged to avail financial assistance from NSFDC through State Channelizing Agencies and other Channelizing Agencies.
- These programmes are currently conducted through Govt./Semi Government/Autonomous Institutions/Sector Skill Council/ Sector Skill Council affiliated training providers.