Govt increases funds for SC self- employment

Govt increases funds for SC self- employment

Aiming to encourage self-employment among the Scheduled Castes, Union Cabinet Wednesday topped the authorised share capital of National Scheduled Castes Finance and Development Corporation from Rs 1000 to Rs 1200 crore.

Functioning under the Ministry of Social Justice and Empowerment, NSFDC offers loans through its agencies at concessional interest rate for members of the SC community, while also sponsoring them for skill and entrepreneurial programmes enabling them for waged or selfemployment.

“The approval will enlarge the quantum of funds available for economic activities, better coverage and enhanced outreach to double Below Poverty Line (BPL) Scheduled Caste beneficiaries,” said the government in a statement.

NSFDC targets 63,000 beneficiaries for financial year 2015-16. The Corporation implements its schemes through 37 agencies in 32 states/UTs.

It has also decided to implement its schemes through select Public Sector Banks, Regional Rural Banks and Other institutions to improve its outreach.

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