Sanjeev
Kumar Sundriyal*
National Handicapped Finance and
Development Corporation (NHFDC) was set up by the Department of Disability
Affairs, on 24th January 1997 with the objective of
serving as a catalyst in the economic development of Persons with Disabilities
(PwDs) by helping them in setting up self employment projects.
The vision of NHFDC is to empower
the Persons with Disabilities in order to break away from the dependence on others
and from the depressed economic and social conditions by engaging themselves in
productive ventures and thus help them to move up the social and economic
ladder with dignity and pride.
NHFDC functions as an apex
financial institution of the country and provides financial assistance, in the
form of loans, for wide range of income generating activities to eligible
Persons with Disabilities. The fund is channelised through the State
Channelising Agencies (SCAs) nominated by the respective State/UT Government
and Regional Rural Banks (RRBs). NHFDC also provides grants to its partner
agencies and reputed training institutes to conduct skill development
programmes in various trades to help PwDs in self employment.
CONCESSIONAL CREDIT
NHFDC makes
available the concessional loans on convenient terms to all eligible Persons
with Disabilities with 40% or more disability, between 18-60 years of age.
Interest Rates
|
The interest rates
of NHFDC ranges
between from 3.5%
to 8% p.a.
as follows:
|
|
Project Cost
|
Rate of Interest
(Women beneficiaries)
|
Rate of Interest
(Male beneficiaries)
|
|
Upto Rs. 50,000
|
4%
|
5%
|
|
Rs. 50,000 to Rs. 5
L
|
5%
|
6%
|
|
Rs. 5 L to Rs. 25 L
|
7%
|
8%
|
|
Education Loan
|
3.5%
|
4%
|
Schemes of Concessional
Credit
|
Type of Loan
|
Loan Limit (Maximum)
|
|
Loan for Self Employment
(Sales/Trading,
Commercial vehicle, agricultural activities, service sector, small industrial
unit)
|
Upto Rs. 25 lac
|
|
Education Loan
For
study in India
For
study abroad
|
Upto Rs. 10 lac
Upto Rs. 20 lac
|
|
Loan for Young Professionals
(Doctors, Engineers, Advocates, Pharmacists,
Architects etc.)
|
Upto Rs. 25 lac
|
|
Purchase of Aids & Appliances
(to enhance the employability/self-employment of
PwDs)
|
Upto Rs. 5 lac
|
1500 Scholarships Under Two Schemes For Students With Disabilities
National Handicapped Finance &
Development Corporation (NHFDC) is implementing two Scholarship schemes ―
1000 Scholarships under Trust Fund & 500 Scholarships under National Fund ―
on behalf of Ministry of Social Justice & Empowerment. These scholarships
are for students with disabilities (40% and above disability) for pursuing
professional/technical courses.
1000 scholarships under Trust Fund
are awarded every year to students with disabilities for professional/technical
courses at Graduate and Post Graduate level. Under this scheme, total
non-refundable fee is reimbursed as applicable to Government Institutions. In
addition, maintenance and books/stationery allowance to the tune of Rs.
31,000/- for Graduate Course and Rs. 40,000/- for Post Graduate Courses are
also allowed. Financial assistance is also be provided for purchase of aids and
appliances for visual & hearing impaired students which is once in
life-time. This scholarship scheme is restricted to those students with
disabilities whose total family income is not more than Rs. 3.00 lac per annum.
A novel feature of this scheme is that students can apply anytime during the
academic year. Even students pursuing correspondence courses are eligible under
this scheme. A student is required to send an advance copy on-line to NHFDC.
Similarly, 500 Scholarships
under National Fund are awarded every year to students with disabilities for
higher academic/professional or technical courses Ph.D/M.Phill/PG
Level/Graduate or at Diploma/Certificate level. Financial assistance is given
for computer with editing software for blind/deaf graduate and post-graduate
students pursuing professional courses and for support access software for
cerebral palsy students. This Scholarship scheme is restricted to those
handicapped students whose total family income is upto Rs. 1.80 lac per annum.
GRANTS
The Corporation
also provides financial assistance for various non-credit based activities for
the development of Persons with disabilities. These activities include :
·
Grant for conducting/sponsoring the training under the
scheme of Skill & Entrepreneurial Development. A stipend of Rs. 1000/- p.m.
is given to each participant during the training duration.
·
Sponsoring the beneficiaries to various Exhibitions
& Fairs as marketing assistance.
·
Funds are provided to State Channelising Agencies (SCAs) for organizing
workshops and conferences to sensitize the officials involved in implementation
of schemes for the target group and awareness creation amongst the
state/district level functionaries.
·
Funds are made available to SCAs for advertisement and
publicity of schemes of the Corporation for the benefit of persons with
disabilities.
NEW INITIATIVES
Partnership with Regional Rural Banks (RRBs)
NHFDC has tied-up with
Regional Rural Banks for the flow of collateral free concessional credit
to PwDs under
credit guarantee scheme
of the Government. At present,
NHFDC has signed agreements with 17 RRBs covering the States of Uttar Pradesh,
Uttarakhand, Haryana and Gujarat.
Efforts are being made for
similar tie-ups in the States of Maharashtra Odisha, Assam, Madhya
Pradesh, Andhra Pradesh,
Meghalaya and West Bengal.
In addition, efforts are on to
bring in Public Sector Banks as
partners. Union Bank of India, Bank of Baroda, Punjab National Bank, Punjab
& Sindh Bank, Oriental Bank of Commerce and State Bank of India have shown
positive response to the proposal.
This
alternative route vis-à-vis conventional route of loaning through SCAs has two
advantages – Block Government Guarantee from States/RRBs/PSBs is not required.
The collateral from the potential beneficiary is also not required as the
guarantee is covered under Credit Guarantee Trust Fund scheme of the
Government.
Proposals Sent to Planning Commission
Four
proposals have been submitted to Planning Commission for effective implementation
of NHFDC schemes. These are:
·
Proposal for fund to provide 25% back-end subsidy to loanee(s) of
NHFDC.
·
Proposal for grant of Rs. 5 Crore per year to NHFDC for
skill training of 4000 PwDs.
·
Proposal for grant of interest free education loan to
students with disabilities.
·
Proposal for grant against service charges and annual
charges (i.e. 1% of loan amount) levied under Credit Guarantee Scheme.
Tie-up with Vocational
Rehabilitation Centers (VRC) for Handicapped for Skill Training
In order to
provide Vocational Training to PwDs as per the Modular Employable Scheme (MEB)
prescribed by Ministry of Labour and Employment, NHFDC tied up with VRCs
through Director General Employment and Training (DGET). This will enhance the
quality loaning to PwDs.
Liberalization
of Lending Policy to Enhance Effectiveness
Removal of Income Criteria,
Delegation of Authority to SCAs upto Rs.5 lac, Incentive for Higher Turnover:
0.5% of annual target and Incentive for Good Recovery (95%) : 0.5% of repayment
made during the year. This will speed-up the implementation of NHFDC schemes at
the state level.
PROGRESS
NHFDC has so far released loans of Rs. 316.12 crores for
disbursement to 64,385 beneficiaries throughout the country. Thus, the
Corporation extends help to nearly 6000 PwDs in a year.
Major Activities funded under NHFDC Scheme of
Self-Employment include, Pick-up-van; Dairy farm; Kirana store; Readymade
garments; STD/PCO; Seeds & Fertilizers Store; Shoe shop; Stationery;
Tailoring & Xerox centre.
The detailed information on schemes
and programmes of NHFDC is available on website www.nhfdc.nic.in.
PwDs assisted
by NHFDC engaged in Economic Empowerment Activities
(PIB Features.)
****
*Media
& Communication Officer, PIB, New Delhi.
SS-129/SF-129/19-07-2012
RTS/HSN