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   MICRO CREDIT SCHEME (MCS) FOR SELF HELP GROUPS (SHGs)

This Scheme is meant to provide small loans to the eligible Scheduled Tribes for undertaking Self Employment Ventures/Activities only through the existing profit making Self Help Groups.  

i) QUANTUM OF ASSISTANCE :
a) NSTFDC provides loans upto Rs.35000/- per Member and maximum Rs.5.00 lakh per SHG.. SCAs shall provide eligible amount of Margin Money/Subsidy as per their norms for the target group and remaining amount may be provided as Term Loan by NSTFDC.  
    
b) NSTFDC may provide upto 100% of  the funds required as Term Loan in case the SCA is/are not able to provide Margin Money/Subsidy loan. 
      
ii) REPEAT LOANS:  Repeat Loans  may be given to the Members by the SHGs.  However Repeat Loan to the SHGs by the SCAs shall be given only after the entire dues of earlier loan taken under NSTFDC scheme are repaid by the SHG(s) to SCA(s) and in turn by the SCA(s) to NSTFDC.

iii) INTEREST RATES :     

a) NSTFDC to SCAs: 
NSTFDC shall charge interest  from the SCAs @ 3% p.a. 

b) SCAs to SHGs: 
SCAs  shall charge  interest at the rate of  6% p.a. from  the  eligible Self Help Groups. 

c) SHGs to Members: Members of respective SHGs to decide the rate of  interest to be     charged by SHGs from its member  but not exceeding 15% p.a.

iv) REPAYMENT PERIOD:    

 a) SHGs to SCAs :  Depending on the nature of activity(ies) repayment period shall be recommended  by the SCAs. However loan is to be repaid by the SHGs to the SCAs within     a maximum period of 04 years including a standard moratorium period of six months to be allowed to the SHGs by the SCAs from the date of disbursement of funds by the SCAs to SHGs.

b) SCAs to NSTFDC :On quarterly basis by SCAs within a period of 05 years from the date of disbursement of funds by  NSTFDC to  SCAs including  a standard moratorium period of six months allowed by the SCAs to SHGs.

By: PWT& FD