National Minorities Development and Finance Corporation Celeberates it’s 20th Foundation Day

National Minorities Development and Finance Corporation Celeberates it’s 20th Foundation Day

NMDFC to Review State Channelizing Agencies tommorow
Annual Conference of State Channelizing Agencies of National Minorities Development and Finance Corporation (NMDFC) begins here tomorrow. The conference provides good platform for interaction, exchange of ideas and getting feedback from the actual field level implementing agencies to bring about further improvement in the programs/schemes and delivery mechanism of schemes and programs of NMDFC.

During the conference successful NMDFC beneficiaries and best performing State Channelizing Agencies will also be awarded. The one day conference will have four sessions that include inaugural session, two technical sessions and a general session to sum up the conference. Technical – I session will have presentations on Setting-up of Regional Offices, Computerization and Commissioning of web-based application software for tracking and monitoring of beneficiaries; Commissioning of Maulana Azad National Skill Academy (MANSA) and implementation of Skill Development of programmes; Women Empowerment Initiatives and Vocational Education; Targets for the FY 2014-15 & possible alternate channels for implementation, Discussion on the findings of the Impact Analysis study conducted by the NMDFC and modalities to be followed while implementing the GIA Scheme of MOMA and New Schemes like Hamari Dharohar, USTAAD, PADHO PRADESH etc., of MOMA. The topics for Technical II session include Best Practices Beneficiary Verification/Impact Analysis, recovery Management ; Implementation of micro-Financing Scheme through the Self Help Groups(SHGs); Computerization of beneficiary records and online tracking; Implementation of Vocational Training Schemes ; Implementation Channels-Tamilnadu Model; Weaknesses in functioning of NMDFC – a Critical Overview Repayment defaults , Government Guarantee, mounting of over dues , One Time Settlements Scheme and Delay in Utilization and its Consequences.

NMDFC was incorporated on 30th September' 1994 and has completed 20 years of its existence. The prime objective of NMDFC is to extend concessional credit to 'backward section' amongst the minorities for undertaking various income generation activities. Women and Artisans are given preference under the scheme.

Financing schemes of NMDFC are Term Loan scheme, Micro-Finance Scheme & Educational Loan scheme. Development Schemes include Mahila Samridhi Yojana, Vocational Training Scheme & Marketing Assistance scheme. NMDFC has two channels to reach the beneficiaries.One channel is State Channelizing Agencies nominated by the respective State Governments and UT Administrations and the other is network of NGOs/Self Help Groups (SHGs). At present NMDFC have 37 operational SCAs in 27 States / UTs. Further, 15 States have setup exclusive Minority Development & Finance Corporations.Since its inception NMDFC has so far released an amount of about Rs.2750 crores to more than 10 lac beneficiaries under its various financing schemes. 

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