AAJEEVIKA MICROFINANCE YOJANA (AMY)  [Livelihood Microfinance Scheme]

(i)    Objective

To provide prompt and need based micro finance to eligible scheduled caste persons atreasonable     rate of interest through NBFC-MFIs to pursue small/micro business activities. 
(ii)    Eligibility 
The Last Mile Financier i.e. NBFC-MFI fulfilling the following norms shall be considered     eligible to avail financial assistance from NSFDC: 
a)    The NBFC-MFI should be registered with the RBI as Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI).
b)    NBFC-MFI should be following all RBI norms related to Micro Finance.
c)    The NBFC-MFI should have 3 years of continuous profit track record.  
d)    The NBFC-MFI should have Gross Non-Performing Assets (NPA) less than    2 % and net NPA below 0.5% as per their Annual Accounts for the preceding financial year.
e)    The NBFC-MFI should be a member of a Credit Bureau.
f)    The NBFC-MFI should have minimum Capacity Assessment Rating of mfr5 by CRISIL or its equivalent.
g)    The NBFC-MFI should not have defaulted in repayment of outside borrowings in the last three years or undergone a corporate debt re-structuring.
h)    The NBFC-MFI should have proper system for internal accounting, risk management, internal audit, MIS, cash management etc. and its annual accounts should have been audited in the last three years.
i)    It will be desirable for the NBFC-MFI to have undergone Code of Conduct Assessment (COCA) with a minimum score of 60 or equivalent.
 (iii)    Unit Cost

    The unit cost of the project could be up to Rs.1,40,000/-.

(iv)    Quantum of Assistance

The NSFDC's share could be up to 90% of the project cost. The balance share shall be contributed by the NBFC-MFI and/or beneficiaries.

(v)    Interest Rates

Type of Borrower


Interest Spread to NBFC-MFI

NBFC-MFI to Beneficiaries


4% p.a. for Women

5% p.a. for Men


12% p.a. for Women

13% p.a. for Men


2% p.a. for Women

3% p.a. for Men


10% p.a. for Women

11% p.a. for Men

  (vi)    Interest Subvention

    (Applicable only for individual borrowers)

The Individual beneficiaries shall be eligible to get interest subvention @ 2% per annum from NSFDC on timely full repayment of dues on yearly basis.  The amount shall be credited by NSFDC directly to the account of the beneficiaries by Direct Benefit Transfer (DBT) after receiving information from NBFC-MFIs about prompt repayment made by the Individual beneficiaries subject to full repayment made by NBFC-MFIs.
(vii)    Repayment Period
The loan is to be repaid in quarterly installments within a maximum period of three and half years from the date of each disbursement including moratorium period.

(viii)    Second Loan 

After repayment of earlier loan, the eligible beneficiaries can avail further loan under NSFDC schemes from NBFC-MFIs or other channelizing agencies of the NSFDC.

Managed by: NSFDC Admin (rakhi.morwal@gov.in)
on 25 November, 2021