Sarkari Yojana
Micro Finance Scheme of NMDFC
About Micro Finance Scheme of NMDFC
Under this NMDFC scheme, credit reaches members of Self Help Groups (SHGs) — mostly minority women in remote villages and urban slums who cannot access formal bank credit. Each SHG member can get up to ₹1,00,000/- under Credit Line-1 and up to ₹1,50,000/- under Credit Line-2, at 7% and 10% interest respectively, with a 2% concession for women beneficiaries under Credit Line-2.
Scheme Overview
Central Government
Ministry Of Minority Affairs
Scheme Details
Eligibility Requirements
To qualify for Micro Finance Scheme of NMDFC, applicants must satisfy the following conditions:
The scheme operates through Self Help Groups (SHGs)…
The scheme operates through Self Help Groups (SHGs) or Thrift and Credit Groups (TCGs) made up of minority community members.
At least 75% of each SHG/TCG's members must…
At least 75% of each SHG/TCG's members must belong to notified minority communities, with the remaining share, up to 25%, drawn from weaker sections such as Scheduled Castes, Scheduled Tribes, Other Backward Classes, or Persons with Disabilities. In exceptional cases, groups with a minimum of 60% minority members may also be considered.
Each beneficiary's annual family income must not exceed
Each beneficiary's annual family income must not exceed: Rs. 3.00 lakh under Credit Line–1. Rs. 8.00 lakh under Credit Line–2.
The SHG must show a satisfactory thrift and…
The SHG must show a satisfactory thrift and credit record for at least six months.
Beneficiaries must not be defaulters under any other…
Beneficiaries must not be defaulters under any other loan scheme.
Loans must go toward income-generating activities such as…
Loans must go toward income-generating activities such as petty trade, handicrafts, food processing, and service enterprises.
Preference goes to women's SHGs and groups working…
Preference goes to women's SHGs and groups working in rural and minority-concentrated areas.
Benefits Provided
Micro Finance Scheme of NMDFC provides the following benefits to eligible applicants:
Beneficiaries belonging to minority communities get credit…
Beneficiaries belonging to minority communities get credit on concessional terms.
Documents Required
Applicants should keep the following documents ready before starting the application:
A group resolution authorising the loan taken under…
A group resolution authorising the loan taken under the NMDFC scheme.
A list of group members with minority status…
A list of group members with minority status and Aadhaar numbers.
Photographs of all members
Photographs of all members.
Minority certificate/self-declaration for each minority member
Minority certificate/self-declaration for each minority member.
Income certificate for each member, issued by a…
Income certificate for each member, issued by a competent authority.
Proof of residence
Proof of residence: Aadhaar card, voter ID, or ration card.
Bank account proof
Bank account proof: the SHG's group account (Aadhaar-linked) and individual passbooks.
Record of thrift and credit activity, for at…
Record of thrift and credit activity, for at least six months.
Meeting register, savings ledger, and loan ledger maintained…
Meeting register, savings ledger, and loan ledger maintained by the SHG.
A business activity plan or list of proposed…
A business activity plan or list of proposed income-generating activities.
An affidavit/self-declaration confirming no other microfinance assistance is…
An affidavit/self-declaration confirming no other microfinance assistance is being received.
How to Apply
Offline Application
Applicants can apply for Micro Finance Scheme of NMDFC through the offline application process outlined below.
Application Process
NMDFC runs 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.