Micro Credit Finance (MCF)
- Under the Scheme loans are provided through State Channelizing Agencies (SCAs), Regional Rural Banks (RRBs) and Nationalized Banks to the target group.
- Loan under this scheme is provided to Safai Karamchari and Scavenger and their dependants for projects with a maximum cost upto Rs.60,000/- per beneficiaries for small and petty trade/business and sundry income generating activities.For a group of 10 Persons, Rs.6.00 lac is the maximum project cost limit ,restricted to Rs.60,000/- per beneficiary.
Interest Rate: Maximum Limit Interest Chargeable from SCA Beneficiary Upto Rs.6.00 Lac per group of 10 members and Rs.60,000/- per beneficiary / unit 2% p.a. 5% p.a.
- Promoter’s contribution is not insisted upon from the beneficiaries under MCF Scheme.
- Loan component from NSKFDC can be provided up to maximum of 90% of the unit cost and the remaining 10% is to be provided by the State Channelising Agencies in the form of loan, subsidy or from any other available sources of funds.
Repayment period: 3 years after implementation period of 3 months and moratorium period of 6 months.