Millennium Post

Backward classes corporation reaches out to 1.39 lakh people

Backward classes corporation reaches out to 1.39 lakh people
The National Backward Classes Finance and Development Corporation [NBCFDC] has assisted more than 1.39 lakh beneficiaries by disbursing an amount of Rs. 215.65 crore during 2011-12. The Corporation has achieved the growth of 23per cent in disbursement of fund and 8.22 per cent in assisting the backward classes beneficiaries.

Against the paid-up capital of Rs. 672.35 Crore, the Corporation has disbursed Rs 2065.76 crore at the end of XIth Plan. Loan amount of Rs 1393.41 crore over and above the budgetary support has been disbursed by recycling of repayments and recoveries and efficient management of internal resources. The aggregate recovery is 89.38 per cent.

The NBCFDC, cumulatively assisted more than 15 Lakh families of backward classes living below double the poverty line with a loan amount of Rs 2100 crore.

The performance of NBCFDC has been rated excellent consecutively for the last twelve years by the government against the MoU target. NBCFDC has also been rated one of the top ten PSE four times amongst MoU signing companies including Navratna and Miniratnas. It has received the SCOPE Meritorious Award [2010-11], and MoU Excellence Award in 2009.  NBCFDC has also introduced Micro Finance Scheme through SHGs and Educational Loan Scheme New Akanksha for technical and professional courses at Graduate and higher level where loans are provided up to Rs10 lakhs to study in India and up to Rs 20 lakhs for study in abroad at 4 per cent interest. It also provides soft loan at 5per cent  interest in special schemes.
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