6.1 Lakh People Utilise Loans Given By Safai Karamcharis' Finance Corporation

(MENAFN- IANS) New Delhi, Sep 11 (IANS) Since 1997, the National Safai Karamcharis Finance and Development Corporation (NSKFDC) has sanctioned and disbursed concessional loans amounting to Rs 3,365.93 crore to its channelising agencies, covering 6.10 lakh people from its target group, an official said on Friday.

The NSKFDC, wholly owned Indian government Undertaking under the Ministry of Social Justice and Empowerment, continues to promote sustainable livelihoods and socio-economic empowerment among Safai Karamcharis, waste pickers, manual scavengers and their dependents across the country, the official said in a statement.

Under its loan-based schemes, NSKFDC provides financial assistance at concessional rates of interest to eligible beneficiaries for undertaking viable self-employment and income-generating activities, the statement said.

Financial assistance of up to Rs 30 lakh is available to an individual beneficiary, while loans of up to Rs 75 lakh may be extended to a group of beneficiaries.

The applicable rate of interest ranges from six per cent to nine per cent per annum, depending upon the nature and quantum of financial assistance.

The repayment period ranges from three to ten years, subject to the amount of the loan and the provisions of the applicable scheme, the statement said.

"A rebate of one per cent on the applicable rate of interest is provided to women beneficiaries. An additional rebate of 0.5 per cent is available to beneficiaries for the timely repayment of instalments, in accordance with the applicable scheme guidelines," the statement said.

The loan schemes are implemented through State Channelising Agencies (SCAs) nominated by the respective state and Union Territory governments, along with Regional Rural Banks (RRBs) and Public Sector Banks (PSBs).

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