NEDFi to financially support artisans of North East under latest Atmanirbhar Hastshilpkar scheme

Itanagar, 10 Dec (KNN) Celebrating its 26th anniversary, North Eastern Development Finance Corporation Ltd. (NEDFi) has launched the Atmanirbhar Hastshilpkar scheme on Thursday which will provide financial assistance to the grass root Artisans of the region in the form of term loan for income generating activities for setting up / expansion / modernization / working capital requirement and other activities related to the sector.

During the launching ceremony, a total of 17 artisans have been provided with credit assistance of INR 1 lakh per artisan. The credit facility is collateral free and carries a subsidized interest rate of 6% p.a., which is repayable in 24 months, said the press release.

For regular repayment, an incentive of 1% on the interest rate is provided, which will be refunded to the artisans on successful repayment of loans.

The interested artisans can apply for the scheme at NEDFi registered office Guwahati and any of its branch offices (details in www.nedfi.com)  with the following eligibility criteria:

  -- a) Registered/ unregistered artisan/ Individual
  -- b) Having valid qualification or practicing any art form
  -- c) No existing loan from any other bank/ financial institution
  -- d) Bank Account
  -- e) Aadhaar Card (optional)

The NEDFi also hosted a business meet at Hotel Su-Pinsa, Near Civil Secretariat in Itanagar, Arunachal Pradesh, which was attended by 27 potential entrepreneurs commemorating the 75th Anniversary of Indian Independence "Azadi Ka Amrit Mahotsav", said the press release
During the meet, a presentation was given on the activities of NEDFi and various Loan Products of NEDFi with emphasis on the low-interest rate and newly incorporated NEDFi schemes on Health, Tea, Handloom & Handicraft industry and Self-Employed Professionals Business Loan Scheme.

Goli Angu, Deputy Director, Department of Industry, Govt. of Arunachal Pradesh highlighted the various schemes under North East Industrial Development Scheme (NEIDS) and incentives under NEIDS.

The participants were briefed on how to apply and process for loan documentation procedures including securities and recovery aspects of bank finance by BM, NEDFi Itanagar. They were also informed on the importance of bookkeeping, audited financial statements and healthy banking transactions etc.

The session concluded with questionnaires from the entrepreneurs which were responded by NEDFi Itanagar Branch. The participants show their interest on real estate projects, restaurants, projects on petty trades etc.