NBCFDC gears up to better service backward class entrepreneurs
Updated: Apr 21, 2014 12:22:45pm
New Delhi, Apr 21 (KNN) The National Backward Classes Finance and Development Corporation (NBCFDC) is better preparing itself in terms of technological capabilities to fund the entrepreneurs belonging to the backward classes.
In this process, it is modernising its loan sanction and management system.
Plans are in the pipeline to automate its loan sanction, disbursement and recovery processes and introduce comprehensive MIS system on a web-based platform, according to official data.
It also plans to computerise its training programmes to track the performance and placement of the target group.
NBCFDC is a wholly owned Government Undertaking under the Ministry of Social Justice and Empowerment, Government of India. Set up in 1992, it is a not for profit company under Section 25 of the Companies Act, 1956.
The Corporation extends loan to state level public sector enterprises, set up under Section 25 and owned by State Governments, who in turn provide concessional loan at 4 per cent to 6 per cent per annum to persons belonging to Other Backward Classes (OBCs), living below the poverty line.
It also extends training grant to these State Channelising Agencies (SCAs) and other institutions for providing skill development training to the target group.
The Corporation channelises its funds through 46 SCAs. Since incorporation, it has disbursed cumulative loan of Rs 2394 crore for assisting about 17 lakh beneficiaries. The loans are guaranteed by the State Governments. Currently, the size of loan assets of NBCFDC is about Rs 900 crore.
In this context, NBCFDC plans to engage a Project Management Consultant to carry out the requirement study of the Corporation and advice on selection of software/hardware etc. (KNN/ES)
In this process, it is modernising its loan sanction and management system.
Plans are in the pipeline to automate its loan sanction, disbursement and recovery processes and introduce comprehensive MIS system on a web-based platform, according to official data.
It also plans to computerise its training programmes to track the performance and placement of the target group.
NBCFDC is a wholly owned Government Undertaking under the Ministry of Social Justice and Empowerment, Government of India. Set up in 1992, it is a not for profit company under Section 25 of the Companies Act, 1956.
The Corporation extends loan to state level public sector enterprises, set up under Section 25 and owned by State Governments, who in turn provide concessional loan at 4 per cent to 6 per cent per annum to persons belonging to Other Backward Classes (OBCs), living below the poverty line.
It also extends training grant to these State Channelising Agencies (SCAs) and other institutions for providing skill development training to the target group.
The Corporation channelises its funds through 46 SCAs. Since incorporation, it has disbursed cumulative loan of Rs 2394 crore for assisting about 17 lakh beneficiaries. The loans are guaranteed by the State Governments. Currently, the size of loan assets of NBCFDC is about Rs 900 crore.
In this context, NBCFDC plans to engage a Project Management Consultant to carry out the requirement study of the Corporation and advice on selection of software/hardware etc. (KNN/ES)
Loading...
