Micro Credit Finance (NSFDC)
in Goa
Last updated:
Micro Credit Finance (NSFDC) in Goa
Micro Credit Finance (NSFDC) is a government scheme available to eligible residents of Goa.
Apply for Micro Credit Finance (NSFDC) in Goa
Scheme Overview
The scheme is implemented by the National Scheduled Castes Finance & Development Corporation, Ministry of Social Justice & Empowerment, Govt. of India. Under this scheme, loans are provided to individuals from the SC community for units costing up to ₹1,40,000/- for income-generating activities.
Eligibility Criteria
The Individual applicant should belong to a Scheduled Caste community.
The applicant's annual family income should be less than ₹3,00,000/-, both in rural and urban areas w.e.f. 08.03.2018.
The Partnership Firms and Co-operative Societies are also eligible to apply under the scheme. However, proposals submitted by Partnership Firms and Co-operative Societies shall be considered subject to the following:
a) All the members of Partnership Firms/Co-operative Societies belong to Scheduled Caste community.
b) Annual family income of each member/applicant should not exceed ₹3,00,000/-.
**Note:** The verification of eligibility criteria shall be the sole responsibility of the State Channelizing Agencies (SCAs)/Channelizing Agencies (CAs). NSFDC shall, however, be entitled to re-verify the eligibility of the applicants, if it so desires.
Benefits
**Maximum Loan Limit:**
NSFDC provides loans up to 90% of the Project Cost with the maximum amount of ₹1.25 lakhs.
**Rate of Interest:**
The NSFDC shall charge interest @ 2.5% from the SCAs/CAs, which in turn, shall charge 6.5% from the Beneficiaries.
**Repayment Period:**
The loan under the Scheme is to be repaid in quarterly instalments within a maximum period of three years from the date of disbursement including 3 months moratorium period.
Required Documents
| # | Document |
|---|---|
| 1 | Passport-size photograph |
| 2 | Aadhaar Card |
| 3 | Income certificate |
| 4 | Caste certificate |
| 5 | Residence proof |
| 6 | Bank passbook/bank details |
| 7 | Any other documents as required |
Common questions in Goa
Who can apply for Micro Credit Finance (NSFDC) in Goa?
Eligible residents of Goa who meet the scheme’s overall criteria can apply for Micro Credit Finance (NSFDC). Refer to the eligibility section above for the complete checklist.
What documents are required for Micro Credit Finance (NSFDC) in Goa?
Applicants in Goa typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
NSFDC stands for National Scheduled Castes Finance and Development Corporation. It was set up by the Government of India under Ministry of Social Justice & Empowerment (MOSJ&E) on 8th February, 1989 under Section 25 of the Companies Act, 1956 as a company 'not for profit'. Now, it is Section 8 Company (not-for-profit) under campanies Act, 2013.