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Schemes of National Disability Finance and Development Corporation

Schemes of National Disability Finance and Development Corporation

The schemes of this corporation are applicable to the disabled brothers and sisters of all sections of the society. Under these schemes there are schemes like vocational training schemes in addition to loans under schemes like term loans to disabled siblings, loans for educational purposes, microfinance. This function is entrusted to the Gujarat Minority Finance and Development Corporation Limited, Gujarat as a state channelizing agency under the Social Security Department by the National Disability Finance and Development Corporation.

Who benefits?

The applicant should be a resident of Gujarat.

Applicants must have 40% or more disability. (Must be a valid certificate)

Applicant age should be 18 to 60 years,

Annual income of the applicant's family: If living in a rural area it should not be more than Rs.3,00,000 and if he is living in an urban area it should not be more than Rs.5,00,000.

The applicant must have sufficient experience in the business for which the loan is sought and have the required technical-educational qualifications for the business to be applied.

The applicant or any member of his family should not have availed any assistance from Gujarat Minority Finance and Development Corporation Limited, Gujarat Backward Classes Development Corporation, Gandhinagar and any state-central government corporation or bank.

The interest rates on National Disability Finance and Development Corporation's credit schemes are as follows.

Loan amount -  Interest rate

Up to Rs. 50,000  - 5%

Up toRs. 50,001 to Rs. 5, 00,000 - 6%

Rs. 50,001 More than

Note: Female beneficiary will have to pay 1% less interest.


Term Lending:

Credit for small businesses in the service and trade sector

Credit limit for business of trade (purchase and sale) Rs. 1.00 lakh Credit limit for business in the service sector Rs.3.00  At least 15% of the jobs in such units should be given to persons with disabilities.

Agricultural credit:

Lending limit Rs.10.00 lakhs. 

These can include loans for businesses such as agricultural production, irrigation, horticulture, silk industry, purchase and sale of agricultural equipment, sale of farm products, etc.

Buying a vehicle for commercial purposes means financing:

Lending limit Rs.10.00 lakhs.

Credit for small businesses

Credit limit is Rs. 25.00 lakhs. In such a case, at least 15% of the jobs will have to be given to the disabled person.

Delayed repayment of 60 equal monthly regular installments in five years to repay the loan with interest for all the above term loans will be subject to penalty interest.

Credit for small businesses

Lending limit is Rs. 25.00 lakhs. In such a case, at least 15% of the jobs will have to be given to the disabled person. 

Repayment of loan with interest for all the above term loans

Late payments in the same monthly regular installments will be subject to penal interest.

Micro credit plan:

Financially weak brothers and sisters with disabilities who want to do business on a small scale will be given Rs. Loans are given up to a limit of Rs. 25,000 / -. The interest rate is 5%. These loans are provided directly through the beneficiary or a competent non-governmental organization. Repayment: In 36 equal installments in 3 years, penalty interest will be applicable on late payment.

Vocational training plan

Under this scheme, five days to 3 months training is organized for the disabled brothers and sisters who are eligible to enhance their skills. A person who has obtained a loan under the scheme of the National Corporation can also join the training under this scheme.

Official Website : Schemes of National Disability Finance and Development Corporation

Source : Sarkar ni Kalyankari Yojana Booklet

Special Thanks : CM Gujarat, Collector Rajkot, Jilla Vahivati Tantr Rajkot.

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Introduction
 
The main task of the Government of Gujarat's SJE Dept. is to ensure the Economic development and Empowerment of persons belonging to Society’s underprivileged sections as below:

  •     Scheduled Castes
  •     Developing Castes
  •     Socially and Economically Backward Classes
  •     Minority communities
  •     Physically and mentally challenged persons.

Welfare yojanas are also being implemented by this Department for the orphans, destitute persons, beggars and old aged persons.
 
The welfare yojanas being implemented by this Department can be mainly classified as under:

  •     Education
  •     Economic Welfare
  •     Health and Housing
  •     Other Yojanas