1. National Handicapped Finance & Development Corporation (NHFDC):
The "National Handicapped Finance and Development Corporation" has been incorporated by Ministry of Social Justice & Empowerment, Govt.of India on 24th Jan, 1997 under section 25 of the Companies Act, 1956 as a company not for profit. It is wholly owned by Govt. of India and has an authorized share capital of Rs.400 crores.(Rupees Four Hundred Crores only).
A. Aims And Objectives
i. Promote economic developmental activities for the benefit of persons with disabilities.
ii. Promote self-employment and other ventures for the benefit/ economic rehabilitation of persons with disabilities.
iii. Extend loans to person with disability for pursuiting general/ professional/ technical education for training at graduate and higher
level.
iv. Assist in the upgradation of technical and entrepreneurial skills of persons with disability for proper and efficient management of
production units.
v. Assist self-employed individuals/ group of individuals of registered factories/ companies/ co-operatives of disabled persons in
marketing their finished goods and assist in procurement of raw materials.
B. Eligibility
i. Any Indian Citizen with 40% or more disability.
ii. Age between 18 and 55 years.
iii. Annual Income below Rs.60,000/- for urban areas and Rs.60,000/- for urban areas and Rs.55,000/-p.a. for rural areas.
iv. A cooperative society of disabled persons.
v. A legally constituted association of disabled persons.
vi. A firm promoted by disabled persons.
vii. Each member of society/ association/ firm applying for loan should fulfil the disability, age and income criteria.
viii. Relevant educational/technical/vocational qualification experience and background.
C. NHFDC Schemes
The Corporation can assist a wide range of income generating activities for disabled persons. These are :
i. For setting up small business in Service/-Trading sector : Loan upto Rs.20.00 Lakhs.
ii. For setting up small industrial unit : Loan upto Rs.20.00 lakhs.
iii. For higher studies/ Professional Training to cover tution fees books, stationery expenses, hostel facilities etc.
iv. For Agricultural Activities : Loan upto Rs.5.00 Lakhs.
v. For manufacturing/ production of assistive Devices for disabled persons : Loan upto Rs.25.00 Lakhs.
vi. For self employment amongst per
vii. sons with mental Retardation, Cerebral Palsy and Autism : Loan upto Rs.2.50 Lakhs.
Note :
a) All loans to be repaid within 7 years.
b) A rebate of 2% on interest for disabled women.
c) A rebate of 0.5% on interest for timely and full repayment of loan & interest.
D. Promoters Contribution for Term Loan and Rate of Interest
| Project Cost | NHFDC Share | Ch. Agency Share | Promoter's Share | Rate of Interest |
| Less than Rs.50,000 | 100% | Nil | Nil | 5% p.a. |
| Above Rs.50,000 & less than 1 lakh | 95% | 5% | Nil | 6% p.a. |
| 3. Above 1 lakh & less than 5 lakhs | 90% | 5% | 5% | 9% p.a. |
| Above 5 lakhs | 85% | 5% | 10% | 10% p.a. |
E. How To Apply
Applications on prescribed format to be submitted to National Handicapped Finance and Developmental Corporation, Faridabad, through the
channelising agency.
F. Whom To Contact
National Handicapped Finance and Development Corporation
Red Cross Bhavan, Sector : 12,
(Opp.Mini Secretariat),
Faridabad - 121 002 (Ph : 284371)
Or
Channelising agency in the respective states :
Assam
Sh.P.Basumatary, I.A.S., MD,
Sh.G.C.Likharu, Secretary
Assam Financial Corporation,
"Vittiya Bhawan", Md.Shah Road,
Paltan Bazar,
Guwahati - 781008 (Assam)
Sh.P.Basumatary, I.A.S., MD,
Sh.G.C.Likharu, Secretary
Assam Financial Corporation,
"Vittiya Bhawan", Md.Shah Road,
Paltan Bazar,
Guwahati - 781008 (Assam)
Andhra Pradesh
Dr.C.Sreedhar, M.D.
A.P.Vikalangula Cooperative Corporation,
B.R.K.R.Bhawan,
Hyderabad - 500063 (Andhra Pradesh)
Bihar
Bihar State Backward Classes Finance & Development Corporation,
4th Floor, Sone Bhawan,
Birchand Patel Marg,
Patna - 800001 (Bihar)
Chandigarh
Chandigarh Child & Women Development Corporation Limited,
Town Hall Building,
3rd Floor, Sector-17-C,
Chandigarh
Daman & Diu
B.D.O.Fort Area,
Moti Daman - 396220 (Daman & Diu)
Delhi
Delhi Financial Corporation
E-Block, Saraswati Bhawan,
Connaught Place,
New Delhi 110 001
Goa
Goa State Scheduled Caste and OBC Finance Development Corporation Ltd.,
4th floor, Patto Centre,
Near Kadamba Bus Stand,
Panaji-Goa
Gujarat
The Gujarat Women Economic Development Corporation Limited,
Block No.8, 8th floor,
Udyog Bhawan,
Gandhi Nagar - 382011
Haryana
Haryana Backward Classes & Economically Weaker Section Kalyan Nigam,
S.C.O. No.813 -14
Sector - 22A,
Chandigarh
Himachal Pradesh
a) The Director
Social & Women's Welfare Department,(Govt.of Himachal Pradesh),
Shimla - 171 009 (H.P)
b) Sh.P.K.Sinha MD,
H.P.Minorities Finance & Development Corporation,
1st Floor, Block No.38, S.D.A Complex,
Kasmpti,
Shimla - 171009 (H.P.)
Jammu & Kashmir
Sh.Shrish Dutt, GM
J & K State Financial Corporation,
S.F.C.House, Durganag Road,
P.O. Box - 8,
Srinagar, J & K
Kerala
Sh.T.P.Mukundan, MD,
Kerala State Handicapped Persons Welfare Corporation,
(A Govt.of Kerala Undertaking.)
Thiruvananthapuram, Kerala
Lakshadweep
Sh.U.C.K.Thangal,
Chairman,
Lakshadweep Khadi and Village Industries Board,
Kavaratti - 682 555
Union Territory of Lakshadweep
Madhya Pradesh
a) M.P.Pichra Varg Vitt Evam Vikas Nigam,
6, Maharana Pratap Nagar, Zone-1,
Bhopal - 482001 (M.P.)
b) M.P.Rajya Sahkari Anusuchit,Jati Vitt Evam Vikas Nigam,
Rajiv Gandhi Bhawan,
35, Shyamala Hills,
Bhopal - 482002 (M.P.)
c) M.P.Adivasi Vitt Evam Vikas Nigam,
52, Maharana Pratap Nagar,
Zone - 1,
Bhopal - 482001 (M.P)
d) M.P.Alpsankhayak Vitt Evam Vikas Nigam,
6, Maharana Pratap Nagar,
Zone-1,
Bhopal - 482001 (M.P)
Maharashtra
Mahatma Phule Backward Class Development Corporation Ltd.,
Supreme Shopping Centre, Gulmohar Cross Road,
No.9, JVPD Scheme, Juhu,
Mumbai - 400049
Manipur
Sh.A.Nabachandra Singh, Director,
Department of Social Welfare,
A.T.Line, 2nd M.R.Gate,
Imphal - 795001 (Manipur)
Mizoram
Mizoram Co-operative Apex Bank LTd.,
Aizwal,
Mizoram
Nagaland
Department of Social Security & Welfare
Kohima,
Nagaland
Orissa
Mahila Vikas Samabaya Nigam,
Qtrs.No.A/5, Ynit-V,
Bhubaneswar - 751001 (Orissa)
Pondicherry
Mrs.Smitha R.,MD.,
Pondicherry Corporation for Development of Women LTd.,
10, 1 Lango Nagar,
Pondicherry - 605011
Punjab
Director,
Social Security and Women & Children Development
Govt.of Punjab (Chandigarh)
Rajasthan
Rajasthan Scheduled Castes & Scheduled Tribes Finance & Development
Co-operative Corporation,
Nehru Sahakar Bhawan,
Central block, 3rd Floor,
Bhawani Singh Marg,
Jaipur (Rajasthan)
Tripura
a) D.R.D.A, West Tripura, Agartala
b) D.R.D.A. South Tripura, Udalpur
c) D.R.D.A., Dhala District, Ambassa
d) D.R.D.A.,North Tripura, Kailashahar
Tamil Nadu
Tamil Nadu State Apex Co-operative Banking Limited,
P.O.Box 226, Netaji Subash Chandra bose Road,
Chennai - 600001 (Tamil Nadu)
Uttar Pradesh
a) Sh.K.R.Shilpkar,
Uttar Pradesh Backward Finance Development Corporation,
Lucknow
b) Sh.Sita Ram Verma,(MD),
Uttar Pradesh Sahakari Gram,
Vikas Bank Limited,
Lucknow
c) Uttar Pradesh Financial Corporation
Kanpur
West Bengal
West Bengal Women Development Undertaking
LA Block, Sector III, Salt Lake City,
Calcutta - 700091
2. Public Sector Banks
(A NOTE CONTATINING THIS SCHEME HAS BEEN FORWARDED BY THE DEPARTMENT OF ECONOMIC AFFAIRS, VIDE D.O.No.F.301/89-SCT (B) DATED
8.9.89 TO THE MINISTRY OF WELFARE)
Under the Scheme for Public Sector Banks for Orphanages, Women's Homes and Physically Handicapped Persons', the benefits of the differential rate
of interest are available to physically handicapped persons as well as institutions working for the welfare of the handicapped. The details of the
scheme are as under:
ELIGIBILITY (For Individual)
Physically handicapped person are eligible to take loans under the scheme, if they satisfy the following conditions:
Should be pursuing a gainful occupation.
a. Family income from all sources should not exceed Rs.7200/-p.a. in urban or semi-urban areas or Rs.6400/- p.a. in rural areas.
b. Should not have land holding exceeding 1 acre if irrigated, and 25 acres if un-irrigated.
c. Should not incur liability to two sources of finance at the same time.
d. Should work largely on their own and with such help as other members of their family or some joint partners may give them and should not employ
paid employees on a regular basis.
ELIGIBILITY (For Institutions)
Institutions for the physically handicapped persons pursuing a gainful occupation are also eligible to take benefit under this scheme. The above
institutions are exempted from income criteria. However, these institutions could utilize the funds for productive purposes only and not for meeting
their normal administrative and establishment expenses.
NB : PUBLIC SECTOR BANKS REFER TO NATIONALISED BANKS. THE STATE BANK OF INDIA AND ITS SUBSIDIARIES.
ASSESSMENT:
The quantum of loan, both for working capital and for acquisition of fixed assets, will be determined on the basis of the needs if
institutions/individuals in a scientific method to ensure that all their legitimate financial requirements are met in toto.
AMOUNT OF LOAN:
The amount of loan will depend on the particular scheme proposed to be financed. It should be adequate to enable the borrower to finance his
requirements without having to borrow funds from other sources. The normal limit will be Rs.6,500/- for working capital loan and Rs.5,500/- for a term
loan. In exceptional cases, particularly for institutions etc., higher amounts are allowed. Both the working capital and term loan are admissible in
accordance with the specific requirements of the borrower.In the case of small scale industries, village artisans etc., in decentralized sector
advances under the scheme may be granted upto Rs.6,000/- without making any distinction between working capital and term loan by way of
composite loan.
Repayment: Term for the acquisition of fixed assets are normally allowed for 5 years, including a grace period not exceeding two years on the
repayment of principal. The repayment schedule will be working out in each case having regard to the nature of the activities of the borrower and
the economics of the scheme. In assessing the surplus for the payment of interest and principal, due allowance is made for the sustenance
requirements of the borrower himself.
Security: The borrower may or may not be able to offer tangible security to secure the loan. The viability or the potential viability of a project will be
the main criterion for the grant of an advance. However, the assets purchased with the loan may be hypothecated to the Bank. In addition, in
appropriate cases of loans to a homogeneous group of borrowers group guarantee may be accepted.
Margin: In the case of borrowers belonging to the weakest strata of society who may not be in a position to furnish margin money, requirements of
margin money will not be insisted upon.
Rate of interest: Keeping in view the social objective the interest will uniformly be charged @ 4 per cent per annum. Physically handicapped persons
including blind eligible under DRI scheme are also given loans for purchasing of artificial limbs, hearing aids, wheelchairs etc., subject to maximum of
Rs.2500/- per borrower provided such assistance is given along with the advances for productive activities and self employment ventures and all
other requirements under DRI Scheme are fulfilled.
Under the scheme of 'Financing Small Scale Industries' a special provision has been made to allow concession of ½% in the rate of interest to the
physically handicapped availing working capital limit above Rs.2500/- and upto Rs.2.0 lakhs.
Repayment period and interest on working capital stipulated as under:
Repayment Medium term loan : 5 to 7 years including
Period: Moratorium period of 6 to 12 months
| Old Machinery other than generator set | 36 months |
| New Generator set | 42 months |
| Old Generator set | 30 months |
Interest For
Working Capital:
| With aggregate advance upto Rs.25,000/- | 12.5% |
| Above Rs.25,000 upto Rs.2.0 lakhs | 13.5% |