Support to National Scheduled Tribe Financial Development Corporation

Abstract

National Scheduled Tribes Finance and Development Corporation (NSTFDC) is an apex organization set up in the year 2001, exclusively for the economic development of Scheduled Tribes and is functioning under the administrative control of the Ministry of Tribal Affairs, Government of India. The objective of the corporation is to provide financial assistance at concessional rate of interest varying between 4% to 8% p.a. payable by the beneficiaries. The financial assistance of the Corporation is extended to the Scheduled Tribes, having annual family income up to double the poverty line (DPL), through State Channelizing Agencies (SCAs), nominated by respective State Governments in addition to certain Regional Rural Banks and PSU Banks. As per the Ministry, NSTFDC is implementing seven schemes: (1) Term Loan (2) Adivasi Mahila Sashaktikaran Yojana (AMSY) (3) Micro Credit Scheme for Self Help Groups (MCF) (4) Adivasi Shiksha Rrinn Yojana (ASRY) (5) Tribal Forest Dwellers (6) Scheme for Self Help Groups (7) Schemes for TRIFED empanelled ST suppliers/artisans. Since its inception, for the above schemes, NSTFDC has given out a loan of more than Rs. 800 Crore to the tribal families prevailing in the tribal domain of India.