Sarkari Yojana
Virasat Loan Scheme of NMDFC
About Virasat Loan Scheme of NMDFC
This scheme, part of NMDFC’s Term Loan Scheme, meets working capital and fixed capital needs for purchasing equipment, tools, machinery or raw material. Beneficiaries can avail a maximum loan of ₹10,00,000/- under Credit Line-1 & 2, with simple interest of 5% p.a. under Credit Line-1 and 6% p.a. for male artisans under Credit Line-2; female artisans get a 1% concession under both Credit Lines.
Scheme Overview
Central Government
Ministry Of Minority Affairs
National Minorities Development & Finance Corporation
Scheme Details
Eligibility Requirements
To qualify for Virasat Loan Scheme of NMDFC, applicants must satisfy the following conditions:
The applicant must be an Indian national belonging…
The applicant must be an Indian national belonging to one of the six notified minority communities: Muslim, Christian, Sikh, Buddhist, Parsi, or Jain.
The applicant's annual family income must not exceed
The applicant's annual family income must not exceed: Rs. 3.00 lakh per annum under Credit Line–1. Rs. 8.00 lakh per annum under Credit Line–2.
The applicant must be an artisan or craftsperson…
The applicant must be an artisan or craftsperson working in a traditional occupation (such as handloom, handicraft, metalwork, leatherwork, embroidery, pottery, etc.).
The applicant must hold basic skills or certification…
The applicant must hold basic skills or certification in the relevant craft/trade, verified by a competent authority or local body.
The loan must be used to procure tools,…
The loan must be used to procure tools, equipment, raw materials, or working capital that boosts production and market linkage.
Women artisans and occupational clusters in minority-dominated areas…
Women artisans and occupational clusters in minority-dominated areas receive preference.
The applicant must not be a beneficiary of…
The applicant must not be a beneficiary of any other similar artisan financing scheme at the time of application.
The beneficiary must hold a valid Aadhaar-linked bank…
The beneficiary must hold a valid Aadhaar-linked bank account and a minority certificate.
Benefits Provided
Virasat Loan Scheme of NMDFC provides the following benefits to eligible applicants:
Minority community beneficiaries receive credit at concessional…
Minority community beneficiaries receive credit at concessional rates.
Documents Required
Applicants should keep the following documents ready before starting the application:
A filled application form (individual artisan)
A filled application form (individual artisan).
A recent photograph of the applicant
A recent photograph of the applicant.
Proof of minority status (certificate or self-declaration)
Proof of minority status (certificate or self-declaration).
An income certificate issued by a competent authority
An income certificate issued by a competent authority.
Proof of residence
Proof of residence: Aadhaar card, voter ID, ration card, or similar.
Identity proof
Identity proof: Aadhaar card/PAN card.
Proof of occupation/skill
Proof of occupation/skill: an artisan ID card from the Development Commissioner (Handicrafts/Handlooms), or a certificate from a local artisan cooperative/society/panchayat.
A project proposal or requirement list (tools, machinery,…
A project proposal or requirement list (tools, machinery, raw materials, etc.).
A quotation/estimate from the supplier(s)
A quotation/estimate from the supplier(s).
Bank account proof
Bank account proof: an Aadhaar-linked bank passbook.
A No Dues Certificate, if previously assisted
A No Dues Certificate, if previously assisted.
An affidavit/self-declaration confirming no benefit from any other…
An affidavit/self-declaration confirming no benefit from any other similar artisan loan scheme.
How to Apply
Offline Application
Applicants can apply for Virasat Loan Scheme of NMDFC through the offline application process outlined below.
Application Process
NMDFC delivers its schemes and programmes through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA) nominated by the respective State Governments, and Banking Partners (currently Canara Bank & Punjab Grameen Bank).
Exclusions / Who Is Not Eligible
- Other than Six Notified minority communities having annual family income of more than Rs. 3.00 Lakhs under credit line 1 and of more than Rs.8.00 Lakhs under credit line 2.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.