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DISBURSEMENTS OF FUNDS

(i) The SCAs/other borrowing agencies of NSTFDC may first complete requisite formalities  viz. selection of beneficiariesdocumentation with the beneficiaries tie-up of their share (i.e. Margin Money/ Subsidy) identification of supplier of assets and arrangements of Government/ Bank Guarantee etc. as may be necessary for operation of the Scheme(s)/ Project(s) so that utilization of funds is not delayed beyond the stipulated period.

(ii) Funds for the sanctioned Scheme(s)/ Project(s) may be released by NSTFDC on specific request from the SCAs/ Other borrowing agencies subject to:

  a) Execution of General Loan Agreement.

  b) Availability of Government/ Bank Guarantee.

 c) Level of overall utilization of funds as per norms of  NSTFDC.

  d) Level of repayment of dues as per norms of NSTFDC.

(iii) Submission of list of selected applicant under group sanctioned schemes: The SCAs may submit a list of selected applicants as per prescribed format (Annexure 'A') to avail entire NSTFDC's share for the scheme. However SCAs may draw part of funds (upto 50%) without submission of list of selected applicants and remaining amount on submission of details of assisted beneficiaries covered with the funds drawn earlier as per prescribed format of progress report.

By: PWT& FD