The National Scheduled Castes Finance & Development Corporation (NSFDC) is a ‘Public Authority’ under Section 2(h)(d)(i) of the Right to Information Act, 2005.
The Public Authority (National Scheduled Castes Finance and Development Corporation) was initially set up as National Scheduled Castes & Scheduled Tribes Finance and Development Corporation and was registered on 8th February, 1989 as a Government Company under Section 25(A Company ‘not for profit’) of the Companies Act, 1956. Later, on Government orders, the Corporation was bifurcated into two separate Corporations (one each for Scheduled Castes and Scheduled Tribes). Consequently, the existing NSFDC is now functioning exclusively for economic development of Scheduled Caste persons with effect from 10th April, 2001.
The NSFDC was set up in the context of playing a catalytic role in developing employment generation schemes for the Scheduled Castes persons and promoting their economic development activities through the State Scheduled Castes Development Corporation (SCDCs) and other agencies appointed by the States/Union Territories Governments.
Objective/Purpose of the Public Authority
Major objectives of the Public Authority (NSFDC) are:
To assist the target group by way of loans and advances, skill training, entrepreneurship development programmes and other know-how.
To maximize the utilization of funds with a view to reaching large number of beneficiaries.
To enhance the resource potential for the purpose above.
To assist the State Channelising Agencies in setting up their projects by way of assistance in project-preparation and training of their personnel.
To enlarge the scope of schemes to reach out to maximum number of beneficiaries.
To undertake all activities for attaining the objectives in a most cost-effective manner.
To develop competencies of the employees by providing professional training in emerging fields.
Vision/Mission Statement of the Public Authority
Vision : Fighting Poverty through Entrepreneurship.
Mission : To finance, facilitate and promote the economic development activities of Scheduled Castes living below double the poverty line limits (i.e. presently,Annual Family Income of Rs 40,000 for rural areas and Rs 55,000 for urban areas).
To perform all its activities in a transparent manner.
To act impartially without, prejudice to, and pressure of any external factors.
To deal with each case of financial assistance to the target group strictly on merit.
Main activities/functions of the Public Authority
Financing Income Generating Schemes for the eligible Scheduled Castes persons through the State Channelising Agencies (SCAs) and other recognized institutions nominated by the respective State /UT Governments.
Providing Micro-Credit Finance to the target group through the SCAs.
Providing educational Loan to the target group through the SCAs.
Providing grants for Skill Development Training Programmes through the SCAs.
Providing advisory services to target group and SCAs.
Upgrading the Skill levels of the SCAs.
List of services being provided by the Public Authority with a brief write-up on them
Providing financial assistance at concessional rates of interest to the eligible persons of target group for setting up of their own ventures.
Providing financial assistance at concessional rates of interest to the eligible persons of target group for pursuing full time technical/professional courses.
Providing skill / entrepreneurial training programmes to the educated unemployed category of the target group for their skill development/upgradation leading to their future employment/self employment.
Providing advisory services to the State Channelising Agencies (SCAs).
Providing training to the officials of SCAs in Project Management.