Centre likely to raise authorised fund in NSFDC by Rs 1,000 crore

The Centre is contemplating increasing authorised share capital of the National Scheduled Castes Finance and Development Corporation (NSFDC) by Rs 1,000 crore to Rs 2,500 Crore.

The Department of Social Justice, the nodal authority, has floated a draft cabinet note for inter-ministerial consultation.

“We expect that the proposal would be accepted by the end of the financial year. With the upcoming elections, we expect a larger capital infusion from the government in the next year’s Budget,” an NSFDC official said under condition of anonymity.

If the Cabinet approves the proposal, it will expand the pool of funds available for economic