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Source– This post is based on the article “NEW SWARNIMA LOAN SCHEME” published in “PIB” on 19th December 2023.
Why in the News?
Recently government has filed a reply in the Lok Sabha regarding the implementation of the Swarnima loan scheme.
What is New Swarnima Loan Scheme?
| Aspect | Details |
| What is it? | Loan scheme to provide financial assistance to women entrepreneurs from backward classes. |
| Aim | Inculcating the spirit of self-dependence among the women of Backward Classes under Term Loan. |
| Nodal Ministry | Ministry of Social Justice and Empowerment |
| Introduced by | National Backward Classes Finance and Development Corporation (NBCFDC) |
| Implemented by | State Channelising Agencies (SCAs) which act as the nodal agency. |
| Eligibility | 1) Women belonging to Backward Classes, aged between 18 and 55 years. 2) Total annual family income should not be more than ₹3 lakh. |
| Benefits | 1) A loan of maximum ₹2,00,000 per beneficiary is provided. 2) The rate of interest on the amount of loan is less as compared to the general loan scheme of the Corporation. 3) Loan is to be repaid in quarterly instalments with maximum 8 years. |
What is NBCFDC?
1) NBCFDC is a Government of India undertaking under the Ministry of Social Justice and Empowerment
2) It was established on January 13, 1992, under Section 25 of the Companies Act 1956 (now section 8 of Company Act, 2013).
3) Aim- To foster economic and developmental initiatives for the benefit of Backward Classes and support skill development and self-employment ventures for the economically disadvantaged within these groups.
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