Dimapur, January 15: Director of the National Schedule Tribes Finance and Development Corporation (NSTFDC) Johny G. Rengma on Friday announced that on December 7, 2020 NSTFDC decided to grant 15% of the margin money as interest and collaterals free loans for those applicants availing loans under Stand-Up India which requires margin money of 25%.
Talking to media persons here at Hotel Lake Shilloi, Dimapur, Rengma said that people in Nagaland are not aware of the schemes and he expects that in 2021 the Naga entrepreneurs should get benefitted.
He explained that under Stand-Up India scheme, both old and new businesses can avail loans from Rs 10 lakh to Rs 1 crore without collaterals from public sector banks and an additional loan of 15% of the margin money will be provided by NSTFDC to the entrepreneurs belonging to Scheduled Tribe provided they come via state agencies like Nagaland Industrial Development Corporation Limited and Nagaland State Co-operative Bank. Also, the 15% loan towards the margin money will be transferred in the name of the borrowers by the state agencies directly.
He, however, clarified that to get the loan one has to make a profile as well as include Aadhar, ST certificate, trade licence and a projection of activities for the next few years. In case it is an old business, the balance sheet of past two years is needed.
Rengma, who is also the vice-chairman Tribal Indian Chamber of commerce and industry (TICCI), said that NSTFDC is also extending loans to entrepreneurs belonging to scheduled tribes from Rs 1 lakh to Rs 50 lakh and all those who fall under the limit of annual income of Rs 3 lakh are eligible.
According to him, transportation in the state is a major concern for the growth of entrepreneurship and therefore more emphasis are given on those involved in this sector and NSTFDC has enough money to carry one awareness programmes, seminars, and exhibitions.
NSTFDC, an apex organization under the Ministry of Tribal Affairs, was brought into existence in 2001 with the sole aim of economic upliftment of the Scheduled Tribes in the country by way of extending concessional financial assistance to the target group under its various schemes.
The prominent schemes of NSTFDC are Term Toan, Adivasi Mahila Sashaktikaran Yojana, Adivasi Shiksha Rinn Yojana, Micro Credit Scheme for Self Help Groups (SHGs), Tribal Forest Dwellers Empowerment Scheme, and Teak Growers Scheme. (Page News Service)