The NBCFDC General Loan Scheme is an initiative by the Ministry of Social Justice and Empowerment aimed at providing financial support to Indian citizens from backward classes (OBC) for income-generating activities. The scheme facilitates term loans up to ₹15 Lakh to support ventures in agriculture and allied activities, small businesses, artisan and traditional occupations, transport and service sectors, as well as technical and professional trades or courses.
Benefits
- Loan Amount:
Up to ₹15 Lakh per beneficiary. - Interest Rates:
- Loans up to ₹5.00 Lakh: 6% per annum
- Loans above ₹5.00 Lakh up to ₹10.00 Lakh: 7% per annum
- Loans above ₹10.00 Lakh up to ₹15.00 Lakh: 8% per annum.
- Purpose:
Financing is provided for setting up income-generating activities across various sectors.
Eligibility Criteria
- Entrepreneurship:
The applicant must be an entrepreneur. - Category:
The applicant must belong to a Backward Class (OBC). - Income Limit:
The applicant’s total annual family income should be less than ₹3 Lakh per annum.
Application Process
Process Overview (Offline & Online):
- Obtain Application Form:
- Eligible persons should apply using the prescribed form, available with the Channel Partners.
- Submission:
- Submit the completed form to the District Office of Channel Partners in the applicant’s area.
- Clearly mention the applicant’s needs, choice of vocation, and any training requirements.
- Assistance and Queries:
- For further details, applicants may contact their Channel Partner (State Channelizing Agency, Regional Rural Banks, or Public Sector Banks) or call the Toll-Free Number: 18001023399.
- The address and contact details of the State Channelizing Agency can be found here.
- Details of Regional Rural Banks or Public Sector Banks are available here.
Documents Required
- Proof of Identity:
Aadhaar Card. - Caste Certificate:
Issued by the relevant district authority. - Photograph:
Passport-size photograph of the applicant. - Income Verification:
- Certificate of Income issued by the Competent Authority of the State Government/District Administration, or
- Antyodaya Anna Yojana (AAY) Card, or
- Below Poverty Line (BPL) Card.
- Alternatively, an annual family income certificate may be used (endorsed by a Gazetted Officer or via self-certification endorsed by the branch manager for bank applicants).
- For Agricultural Applicants:
- Domicile Certificate.
- For landless agricultural laborers and marginalized farmers:
- Landless Agricultural Labour or Marginalized Farmers with land holding less than one hectare are deemed to have an annual family income below ₹1.50 Lakh.
- Small farmers with land holdings between one and two hectares are deemed to have an annual family income below ₹3.00 Lakh.
Frequently Asked Questions (FAQs)
- What is the maximum size of the loan under this scheme?
Up to ₹15 Lakh per beneficiary. - How much will be the interest rate for the loan?
- Up to ₹5.00 Lakh: 6% per annum
- Between ₹5.00 Lakh and ₹10.00 Lakh: 7% per annum
- Above ₹10.00 Lakh up to ₹15.00 Lakh: 8% per annum.
- By when is the loan expected to be repaid?
Repayment terms are determined by the lending institution as per the individual loan agreement. - What is the pattern of financing?
The scheme facilitates composite loans, which include both term loan and working capital components. - Can women entrepreneurs also apply?
Yes, women entrepreneurs are eligible provided they meet the other criteria. - Is the project or venture limited to a specific sector?
No, the scheme covers various sectors including agriculture and allied activities, small businesses, artisan and traditional occupations, transport and service sectors, and technical/professional trades or courses. - Is there a helpline number for queries regarding the application process?
Yes, call 18001023399 for assistance. - What are SCAs?
SCAs refer to State Channelizing Agencies that facilitate the loan process. - How do I know if a field in the application form is mandatory?
Mandatory fields are typically marked with an asterisk (*) on the application form.