Punjab govt earmarks Rs 43 cr for self-employment initiative

Punjab State Backward Classes Land Development and Finance Corporation today said it has set aside Rs 43 crore to provide credit facility to unemployed youth in the state to start their self-employment ventures.
According to an official spokesman, as per the proposed plan under NBCFDC Scheme (The National Backward Classes Finance and Development Corporation) 2,200 beneficiaries would get loans to the tune of Rs 20 crore and same amount would be disbursed to 2,200 beneficiaries under NMDFC (The National Minorities Development & Finance Corporation).
He said under direct loan scheme as many as 300 beneficiaries would get loans to the tune of Rs 3 crore for setting up their own ventures.

The spokesman said the corporation has been providing loans to backward classes and economically weaker sections from its share capital with annual interest rate of 0 to 7 per cent under direct loan scheme.
He said under this scheme from March 1, 2012 to October 31, 2014, loans to the tune of Rs. 119.70 lakh have been disbursed to 120 beneficiaries.
He said under term loan scheme of NBCFDC, Saksham Scheme, Shilap Sampada Scheme, Education Loan Scheme, New Swarnima Scheme, Micro Financing Scheme, Mahila Samridhi Yojana and Krishi Sampada Scheme loans to the tune of Rs 1,180.84 lakh have been disbursed to 1093 beneficiaries of backward classes between March 1, 2012 and October 31, 2014.