core sector communique

NBCFDC Achieved 23% Growth in Disbursement and Covered More than 1.39 Lakh Beneficiaries

National Backward Classes Finance and Development Corporation (NBCFDC) under the Ministry of Social Justice & Empowerment was set up to promote economic and developmental activities for the benefit of members of Backward Classes living below double the poverty line. NBCFDC has assisted more than 1.39 lakh beneficiaries by disbursing an amount of Rs. 215.65 crore during 2011-12. Achieved the growth of 23% in disbursement of fund and 8.22% in assisting the Backward Classes beneficiaries. Against the Paid-up Capital of Rs. 672.35 Crore, the Corporation has disbursed Rs.2065.76 crore at the end of XIth Plan. Loan amount of Rs. 1393.41 crore over and above the budgetary support has been disbursed by recycling of repayments/ recoveries and efficient management of internal resources. Aggregate recovery is 89.38%. NBCFDC, cumulatively assisted more than 15 Lakh families of Backward Classes living below double the poverty line with loan amount of Rs.2100 Crore. Performance of NBCFDC has been rated excellent consecutively for the last twelve years by the Government against MoU target. NBCFDC has also been rated one of the top ten PSE four times amongst MoU signing companies including Navratna & Miniratnas. It has received the SCOPE Meritorious Award (2010-11), and MoU Excellence Award in 2009. NBCFDC has also introduced Micro Finance Scheme through SHGs and Educational Loan Scheme New Akanksha for technical & professional courses at Graduate and higher level where loans are provided up to Rs.10 lakhs to study in India and up to Rs. 20 lakhs for study in abroad @ 4% interest. It also provides soft loan @ 5% interest in special scheme - New Swarnima and @ 4% interest in Mahila Samridhi for women living below the poverty line.