National Scheduled Tribes Finance and Development Corporation (NSTFDC), under the Ministry of Tribal Affairs, implements schemes for self-employment of Scheduled Tribes by providing concessional financial assistance to individuals or groups of STs for undertaking Income Generation Activities. This financial assistance is extended through channelizing agencies throughout India for eligible STs. Details of schemes being implemented by NSTFDC are as follows:-
· Term Loan scheme: National Scheduled Tribes Finance and Development Corporation (NSTFDC) provides Term Loan for any income generation scheme costing upto Rs.25.00 lakhs per unit. The financial assistance is extended upto 90% of the cost of the scheme and the balance is met by way of subsidy/ promoter’s contribution/ margin money. The interest rate chargeable is 6% per annum for loan upto Rs.5 lakhs, 8% per annum for loans ranging between Rs.5 lakhs to Rs. 10 lakhs and 10% per annum for loan exceeding Rs. 10 lakhs on the entire amount of loan.
· Adivasi Mahila Sashaktikaran Yojana (AMSY): Under the scheme, Scheduled Tribes women can undertake any income generation activity. Loans upto 90% for scheme costing upto Rs. 1 lakh are provided at a concessional rate of interest of 4% per annum (p.a.).
· Micro Credit Scheme for Self Help Groups: The Corporation provides loans upto Rs.50,000/- per member and Rs. 5 Lakhs per Self Help Group (SHG). The interest rate chargeable is 6% p.a.
· Adivasi Shiksha Rrinn Yojana: Under this scheme, financial assistance upto Rs.5.00 lakh at concessional rate of interest of 6% per annum is provided to ST students for pursuing professional/ technical education including Ph.D. in India. Ministry of Human Resource Development, Govt. of India provides interest subsidy for this scheme, whereby, no interest is payable by a student during the course period and one year or six months after getting the job, as the case may be. There is also a provision for providing further concessional finance for undertaking any income generation activity after completion of studies.
· Tribal Forest Dwellers Empowerment Scheme: Under the scheme, NSTFDC provides financial assistance to Scheduled Tribes given land rights under Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006. Loan upto 90% of the scheme costing upto Rs. 1 lakh can be provided at rate of interest of 6% p.a. This is a new scheme.
· Scheme for NGOs/ EVAs: This is a newly launched scheme under which NSTFDC provides loans upto Rs.50,000/- per member and Rs. 5 Lakhs per Self Help Group (SHG) through NGOs/ Established Voluntary Agencies. The interest rate chargeable is 12% p.a. from members of SHGs against which they will get an interest incentive of 4% on timely payment thus making the effective rate of interest to 8%.