Sanjeev Kumar Sundriyal ,Media & Communication Officer, PIB, New Delhi.
National Handicapped Finance and Development Corporation (NHFDC) was set up by the Department of Disability Affairs, on 24th January 1997 with the objective of serving as a catalyst in the economic development of Persons with Disabilities (PwDs) by helping them in setting up self employment projects.
The vision of NHFDC is to empower the Persons with Disabilities in order to break away from the dependence on others and from the depressed economic and social conditions by engaging themselves in productive ventures and thus help them to move up the social and economic ladder with dignity and pride.
NHFDC functions as an apex financial institution of the country and provides financial assistance, in the form of loans, for wide range of income generating activities to eligible Persons with Disabilities. The fund is channelised through the State Channelising Agencies (SCAs) nominated by the respective State/UT Government and Regional Rural Banks (RRBs). NHFDC also provides grants to its partner agencies and reputed training institutes to conduct skill development programmes in various trades to help PwDs in self employment.
CONCESSIONAL CREDIT
NHFDC makes available the concessional loans on convenient terms to all eligible Persons with Disabilities with 40% or more disability, between 18-60 years of age.
Interest Rates
The interest rates of NHFDC ranges between from 3.5% to 8% p.a. :
1500 Scholarships Under Two Schemes For Students With Disabilities
National Handicapped Finance & Development Corporation (NHFDC) is implementing two Scholarship schemes ? 1000 Scholarships under Trust Fund & 500 Scholarships under National Fund ? on behalf of Ministry of Social Justice & Empowerment. These scholarships are for students with disabilities (40% and above disability) for pursuing professional/technical courses.
1000 scholarships under Trust Fund are awarded every year to students with disabilities for professional/technical courses at Graduate and Post Graduate level. Under this scheme, total non-refundable fee is reimbursed as applicable to Government Institutions. In addition, maintenance and books/stationery allowance to the tune of Rs. 31,000/- for Graduate Course and Rs. 40,000/- for Post Graduate Courses are also allowed. Financial assistance is also be provided for purchase of aids and appliances for visual & hearing impaired students which is once in life-time. This scholarship scheme is restricted to those students with disabilities whose total family income is not more than Rs. 3.00 lac per annum. A novel feature of this scheme is that students can apply anytime during the academic year. Even students pursuing correspondence courses are eligible under this scheme. A student is required to send an advance copy on-line to NHFDC.
Similarly, 500 Scholarships under National Fund are awarded every year to students with disabilities for higher academic/professional or technical courses Ph.D/M.Phill/PG Level/Graduate or at Diploma/Certificate level. Financial assistance is given for computer with editing software for blind/deaf graduate and post-graduate students pursuing professional courses and for support access software for cerebral palsy students. This Scholarship scheme is restricted to those handicapped students whose total family income is upto Rs. 1.80 lac per annum.
GRANTS
The Corporation also provides financial assistance for various non-credit based activities for the development of Persons with disabilities. These activities include :
Grant for conducting/sponsoring the training under the scheme of Skill & Entrepreneurial Development. A stipend of Rs. 1000/- p.m. is given to each participant during the training duration.
Sponsoring the beneficiaries to various Exhibitions & Fairs as marketing assistance.
Funds are provided to State Channelising Agencies (SCAs) for organizing workshops and conferences to sensitize the officials involved in implementation of schemes for the target group and awareness creation amongst the state/district level functionaries.
Funds are made available to SCAs for advertisement and publicity of schemes of the Corporation for the benefit of persons with disabilities.
Partnership with Regional Rural Banks (RRBs)
NHFDC has tied-up with Regional Rural Banks for the flow of collateral free concessional credit to PwDs under credit guarantee scheme of the Government. At present, NHFDC has signed agreements with 17 RRBs covering the States of Uttar Pradesh, Uttarakhand, Haryana and Gujarat.
Efforts are being made for similar tie-ups in the States of Maharashtra Odisha, Assam, Madhya Pradesh, Andhra Pradesh, Meghalaya and West Bengal.
In addition, efforts are on to bring in Public Sector Banks as partners. Union Bank of India, Bank of Baroda, Punjab National Bank, Punjab & Sindh Bank, Oriental Bank of Commerce and State Bank of India have shown positive response to the proposal.
This alternative route vis-à-vis conventional route of loaning through SCAs has two advantages – Block Government Guarantee from States/RRBs/PSBs is not required. The collateral from the potential beneficiary is also not required as the guarantee is covered under Credit Guarantee Trust Fund scheme of the Government.
Proposals Sent to Planning Commission
Four proposals have been submitted to Planning Commission for effective implementation of NHFDC schemes. These are:
Proposal for fund to provide 25% back-end subsidy to loanee(s) of NHFDC.
Proposal for grant of Rs. 5 Crore per year to NHFDC for skill training of 4000 PwDs.
Proposal for grant of interest free education loan to students with disabilities.
Proposal for grant against service charges and annual charges (i.e. 1% of loan amount) levied under Credit Guarantee Scheme.
Tie-up with Vocational Rehabilitation Centers (VRC) for Handicapped for Skill Training
In order to provide Vocational Training to PwDs as per the Modular Employable Scheme (MEB) prescribed by Ministry of Labour and Employment, NHFDC tied up with VRCs through Director General Employment and Training (DGET). This will enhance the quality loaning to PwDs. Liberalization of Lending Policy to Enhance Effectiveness
Removal of Income Criteria, Delegation of Authority to SCAs upto Rs.5 lac, Incentive for Higher Turnover: 0.5% of annual target and Incentive for Good Recovery (95%) : 0.5% of repayment made during the year. This will speed-up the implementation of NHFDC schemes at the state level.
PROGRESS
NHFDC has so far released loans of Rs. 316.12 crores for disbursement to 64,385 beneficiaries throughout the country. Thus, the Corporation extends help to nearly 6000 PwDs in a year.
Major Activities funded under NHFDC Scheme of Self-Employment include, Pick-up-van; Dairy farm; Kirana store; Readymade garments; STD/PCO; Seeds & Fertilizers Store; Shoe shop; Stationery; Tailoring & Xerox centre.
The detailed information on schemes and programmes of NHFDC is available on website www.nhfdc.nic.in.
PwDs assisted by NHFDC engaged in Economic Empowerment Activities
(PIB Features.)
Read more / Original news source: http://manipur-mail.com/nhfdc-empowering-persons/
