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J&K Women’s Development Corporation | |
SCHEMES | |
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National Minorities Development & Finance Corporation (NMDFC). Government of India has identified five communities viz. Muslims, Buddhists, Sikhs, Christians and Parsis as minorities at the national level on the basis of population census. The Corporation provides long term loan at a concessional rate of interest to assist the poor women belonging to minority community for setting up of their income generating units as per the following:- | |
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a) Term Loan Scheme
i) Target Group: Women’s Development Corporation gives direct loan to individual beneficiary for Jute Accessories, Jute Fancy Bags, General Store, Embroidery, D.T.P, Beauty Parlour, Bakery Shop, Papier Machine, Milk Products, Pashmina Spinning, Carpet Weaving, Artificial Flowers, Dori Work, Block Printing, Cutting Tailoring/Fabric Art etc. or any other activity which beneficiary can find viable.
ii) Eligibility Criteria: Individual beneficiary from minority community, in the age group of 18-45 years and should be a permanent resident of J&K and should not be a defaulter with any other financial institution. In case of non establishment of unit the recovery of loan amount will be imposed in one go @ 12%.
iii) Annual Family Income: Rs.1,20,000/- for urban areas and Rs.98,000/- for rural areas.
iv) Funding Pattern
Maximum Loan Limit : Rs.10.00 lakhs NMDFC Share : 90% JKWDC Share : 05% Beneficiary’s Share : 05% Rate of interest : 06% Moratorium Period : 3 months Repayment Period : 5 years in 20 easy quarterly instalments
b) Virasat Scheme
i) Target Group: This scheme is part of Term Loan scheme & has been launched with the objective to meet credit requirements of Artisans, both in terms of Working capital & Fixed capital for purchase of equipment/tools/machineries. ii) Eligibility Criteria: Individual beneficiary from minority community should be having Artisan Card should be in the age group of 18-45 years and should be a permanent resident of J&K and should not be a defaulter with any other financial institution. In case of non establishment of unit the recovery of loan amount will be imposed in one go @ 12%.
iii) Annual Family Income: Rs.1,20,000/- for urban areas and Rs.98,000/- for rural areas.
iv) Funding Pattern
Maximum Loan Limit : Rs.10.00 lakhs NMDFC Share : 90% JKWDC Share : 05% Beneficiary’s Share : 05% Rate of interest : 04% Moratorium Period : 3 months Repayment Period : 5 years in 20 easy quarterly instalments. c) Micro Finance Loan Scheme i) Target Group: Women’s Development Corporation gives direct loan to NGO/SHG for Jute Accessories, Jute Fancy Bags, Embroidery, Milk Products, Carpet Weaving, Artificial Flowers, Dori Work, Block Printing, Cutting Tailoring/Fabric Art etc. or any other activity which NGO/SHG can find viable.
ii) Eligibility Criteria: A group of 5 to 20 beneficiaries from minority community in the age group of 18-45 years and should be a permanent resident of J&K and should not be a defaulter with any other financial institution. In case of non establishment of unit the recovery of loan amount will be imposed in one go @ 12%.
iii) Annual Family Income: Rs.1,20,000/- for urban areas and Rs.98,000/- for rural areas. iv) Funding Pattern
Maximum Loan Limit : Rs.1.00 lakhs (per beneficiary) NMDFC Share : 90% JKWDC Share : 05% Beneficiary’s Share : 05% Rate of interest : 05% Moratorium Period : 3 months Repayment Period : 3 years in 12 easy quarterly instalments. d) Education Loan Scheme
i) Eligibility Criteria: Individual beneficiary from minority community in the age group of 16-32 years should be a permanent resident of J&K and should not be a defaulter with any other financial institution. The beneficiary should have secured admission in Government/Semi Government institution or should have 80% and above marks for admission in private institution.
ii) Courses: All professional and technical courses at graduate and higher level approved by appropriate authority such as AICTE, Medical Council of India, UGC etc.
iii) Annual Family Income: Rs.1,20,000/- for urban areas and Rs.98,000/- for rural areas.
iv) Other Terms & Conditions: · Admission fee, tuition fee, examination fee and similar expenditure will be paid directly to the Institution/College through DBT by WDC. · Misc. expenditure on account of purchase of books, boarding and lodging etc. will be paid to the beneficiary through the concerned Institution/College through DBT. · The loan will be released in instalments on semester/annual basis depending upon the system of the Institution/College and subject to successful completion of the previous semester/year.
v) Funding Pattern
Maximum Loan Limit : Rs.20.00 lakhs courses in India with a maximum duration of 5 years @ Rs.4.00 lakhs per annum.
Rs.30.00 lakhs courses in Abroad with a maximum duration of 5 years @ Rs.6.00 lakhs per annum.
NMDFC Share : 90% JKWDC Share : 05% Beneficiary’s Share : 05% Rate of interest : 03% Moratorium Period : 6 months after completion of course or getting job, whichever is earlier. Repayment Period : 5 years in 60 easy monthly instalments. | |
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National Backward Classes Finance & Development Corporation (NBCFDC). The scheme is meant for the development of women belonging to backward classes as Bangi, Doom, Jheever, Barber, Fisher women including Gada Hanji, Bhand, Grati, Kulfaquir, Dambalifaqir, Sheikh, Teeli, Ganai, Mouchi etc., notified by Central/J&K Government from time to time. The Corporation provides loan to the beneficiaries under this scheme at a very low rate of interest for setting up of their income generating units as per the following: | |
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a) Term Loan/New Swarnima Scheme
i) Target Group: Women’s Development Corporation gives direct loan to individual beneficiary for Jute Accessories, Jute Fancy Bags, General Store, Embroidery, D.T.P, Beauty Parlour, Bakery Shop, Papier Machine, Milk Products, Pashmina Spinning, Carpet Weaving, Artificial Flowers, Dori Work, Block Printing, Cutting Tailoring/Fabric Art etc. or any other activity which beneficiary can find viable.
ii) Eligibility Criteria: Individual beneficiary from backward classes in the age group of 18-45 years and should be a permanent resident of J&K and should not be a defaulter with any other financial institution. In case of non establishment of unit the recovery of loan amount will be imposed in one go @ 12%.
iii) Annual Family Income: Rs.3.00 lakhs for urban and rural areas.
iv) Funding Pattern
(Term Loan Scheme) Maximum Loan Limit : Rs.10.00 lakhs NBCFDC Share : 85% JKWDC Share : 10% Beneficiary’s Share : 05% Rate of interest : 06% Moratorium Period : 3 months Repayment Period : 5 years in 20 easy quarterly instalments.
(New Swarnima Loan Scheme) Maximum Loan Limit : Rs.2.00 lakhs NBCFDC Share : 95% JKWDC Share : 05% Beneficiary’s Share : 00% Rate of interest : 05% Moratorium Period : 3 months Repayment Period : 5 years in 20 easy quarterly instalments.
b) Micro Finance Loan Scheme
i) Target Group: Women’s Development Corporation gives direct loan to NGO/SHG for Jute Accessories, Jute Fancy Bags, Embroidery, Milk Products, Carpet Weaving, Artificial Flowers, Dori Work, Block Printing, Cutting Tailoring/Fabric Art etc. or any other activity which NGO/SHG can find viable.
ii) Eligibility Criteria: A group of 5 to 20 beneficiaries from backward classes community in the age group of 18-45 years and should be a permanent resident of J&K and should not be a defaulter with any other financial institution. In case of non establishment of unit the recovery of loan amount will be imposed in one go @ 12%.
iii) Annual Family Income: Rs.3.00 lakhs for urban and rural areas.
iv) Funding Pattern
Maximum Loan Limit : Rs.1.00 lakhs (per beneficiary) NBCFDC Share : 95% JKWDC Share : 00% Beneficiary’s Share : 05% Rate of interest : 04% Moratorium Period : 3 months Repayment Period : 3 years in 12 easy quarterly instalments
c) Education Loan Scheme
i) Eligibility Criteria: Individual beneficiary from Backward Classes notified by Central/J&K Government from time to time in the age group of 16-32 years should be a permanent resident of J&K and should not be a defaulter with any other financial institution. The beneficiary should have secured admission in Government/Semi Government institution or should have 80% and above marks for admission in private institution.
ii) Courses: All professional and technical courses at graduate and higher level approved by appropriate authority such as AICTE, Medical Council of India, UGC etc.
iii) Annual Family Income: Rs.3.00 lakhs for urban and rural areas.
iv) Other Terms & Conditions:
· Admission fee, tuition fee, examination fee and similar expenditure will be paid directly to the Institution/College through DBT by WDC. · Misc. expenditure on account of purchase of books, boarding and lodging etc. will be paid to the beneficiary through the concerned Institution/College through DBT. · The loan will be released in instalments on semester/annual basis depending upon the system of the Institution/College and subject to successful completion of the previous semester/year.
v) Funding Pattern
Maximum Loan Limit : Rs.15.00 lakhs courses in India
NBCFDC Share : 90% JKWDC Share : 05% Beneficiary’s Share : 05% Rate of interest : 3.5% Moratorium Period : 6 months after completion of course or getting job, whichever is earlier. Repayment Period : 5 years in 60 easy monthly instalments.
Maximum Loan Limit : Rs.20.00 lakhs courses in Abroad
NBCFDC Share : 85% JKWDC Share : 10% Beneficiary’s Share : 05% Rate of interest : 3.5% Moratorium Period : 6 months after completion of course or getting job, whichever is earlier. Repayment Period : 5 years in 60 easy monthly instalments. | |
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National Handicapped Finance & Development Corporation (NHFDC). The target groups under this scheme are differently abled women with 40% disability as defined in PwD Act, 2016 or its amendments, irrespective of caste, creed, religion and income. The Corporation provides loan to the beneficiaries under this scheme at very low rate of interest for setting up of their income generating units as per the following: | |
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a) Term Loan scheme
i) Target Group: Women’s Development Corporation gives direct loan to individual beneficiary for Jute Accessories, Jute Fancy Bags, General Store, Embroidery, D.T.P, Beauty Parlour, Bakery Shop, Papier Machine, Milk Products, Pashmina Spinning, Carpet Weaving, Artificial Flowers, Dori Work, Block Printing, Cutting Tailoring/Fabric Art etc. or any other activity which beneficiary can find viable.
ii) Eligibility Criteria: Individual beneficiary with 40% disability or more (certificate should be provided by Chief Medical Officer or Medical Board) should be in the age group of 18-58 years, in case of persons with mental retardation, the eligible age would be above 14 years and should be a permanent resident of J&K and should not be a defaulter with any other financial institution. In case of non establishment of unit the recovery of loan amount will be imposed in one go @ 12%.
iii) Funding Pattern
Maximum Loan Limit : Rs.5.00 lakhs
(Upto Rs.0.50 lakhs) NHFDC Share : 100% JKWDC Share : 0% Beneficiary’s Share : 0% Rate of interest : 04% Moratorium Period : 3 months Repayment Period : 6 years in 24 easy quarterly instalments
(Above Rs.0.50 lakhs upto Rs.1.00 lakh)
NHFDC Share : 95% JKWDC Share : 05% Beneficiary’s Share : 00% Rate of interest : 06% Moratorium Period : 3 months Repayment Period : 6 years in 24 easy quarterly instalments
(Above Rs.1.00 lakh upto Rs.5.00 lakhs)
NHFDC Share : 90% JKWDC Share : 05% Beneficiary’s Share : 05% Rate of interest : 06% Moratorium Period : 3 months Repayment Period : 6 years in 24 easy quarterly instalments
b) Education Loan Scheme
i) Eligibility Criteria: Individual beneficiary from with 40% disability or more in the age group of 16-32 years should be a permanent resident of J&K and should not be a defaulter with any other financial institution. The beneficiary should have secured admission in Government/Semi Government institution or should have 80% and above marks for admission in private institution
ii) Courses: All professional and technical courses at graduate and higher level approved by appropriate authority such as AICTE, Medical Council of India, UGC etc.
iii) Other Terms & Conditions:
· Admission fee, tuition fee, examination fee and similar expenditure will be paid directly to the Institution/College through DBT by WDC. · Misc. expenditure on account of purchase of books, boarding and lodging etc. will be paid to the beneficiary through the concerned Institution/College through DBT. · The loan will be released in instalments on semester/annual basis depending upon the system of the Institution/College and subject to successful completion of the previous semester/year.
iv) Funding Pattern
Maximum Loan Limit : Rs.10.00 lakhs courses in India Rs.20.00 lakhs courses in Abroad (Upto Rs.4.00 lakhs) NHFDC Share : 100% JKWDC Share : 0% Beneficiary’s Share : 0% Rate of interest : 3.5% Moratorium Period : 6 months after completion of course or getting job, whichever is earlier. Repayment Period : 5 years in 60 easy monthly instalments.
(Above Rs.4.00 lakhs In India) NHFDC Share : 95% JKWDC Share : 00% Beneficiary’s Share : 05% Rate of interest : 3.5% Moratorium Period : 6 months after completion of course or getting job, whichever is earlier. Repayment Period : 5 years in 60 easy monthly instalments. (Above Rs.4.00 lakhs In Abroad) NHFDC Share : 85% JKWDC Share : 10% Beneficiary’s Share : 05% Rate of interest : 3.5% Moratorium Period : 6 months after completion of course or getting job, whichever is earlier. Repayment Period : 5 years in 60 easy monthly instalments.
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Women Entrepreneurship Programme (WEP). Under this scheme, loan is available for skilled/qualified young women irrespective of caste, creed, religion and income. The Corporation provides loan to the beneficiaries under this scheme at very low rate of interest for setting up of their income generating units as per the following:-
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a) Term Loan Scheme
i) Target Group: Women’s Development Corporation gives direct loan to individual beneficiary for Jute Accessories, Jute Fancy Bags, General Store, Embroidery, D.T.P, Beauty Parlour, Bakery Shop, Papier Machine, Milk Products, Pashmina Spinning, Carpet Weaving, Artificial Flowers, Dori Work, Block Printing, Cutting Tailoring/Fabric Art, Horticulture, Agriculture, Aquaculture, Cut Flowers, Aromatic Plants, Food Products etc. or any other activity which beneficiary can find viable.
ii) Eligibility Criteria: Individual beneficiary from general category, should be matriculate or above in the age group of 18-60 years and should be a permanent resident of J&K and should not be a defaulter with any other financial institution. In case of non establishment of unit the recovery of loan amount will be imposed in one go @ 12%.
iv) Funding Pattern
Maximum Loan Limit : Rs.3.00 lakhs JKWDC Share : 90% Beneficiary’s Share : 10% Rate of interest : 06% Moratorium Period : 6 months Repayment Period : 5 years in 20 easy quarterly instalments
Rs. 0.10 lakhs for Municipal areas and Rs.1.25 lakhs for Municipal Corporation areas my be added to the maximum limits for loan. | |