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   Information about Loan and its Criteria

Maharashtra State Other Backward Classes Finance and Development Corporation is a Government of Maharashtra undertaking Company under Social Justice, Welfare, Cultural Affairs Department. The Corporation has been established on 25.09.1998 with the objective of economic and development activities for the benefit of Other Backward Classes in the state and to the assist the weaker section of the target group in skill development and self-employment activities. The authorized Share Capital is Rs. 50.00 crores and Paid Up Share Capital is Rs. 17.87 cores as on 31.08.2004.

The State Government has appointed this Corporation as a state-channelising agency for implementing the schemes of National Backward Finance and Development Corporation (NBCFDC). State Government has sanction Block Government Guarantee of Rs. 75.00 crores for obtaining loan from NBCFDC for disbursement to the beneficiaries under various schemes of the Central Corporation.

Schemes :-

Term Loan :

Under this scheme, the project cost is Rs. up to Rs. 5 lacs out of which 85% loans is sectioned by the Central Corporation. 10% State Corporation and 5% beneficiaries. However, as per the guidelines of the Central Corporation 75% proposals are to be sanctioned having project cost up to Rs. 50,000/- and 25% proposal should be sanctioned having project cost from Rs.50,000/- to Rs. 5 lacs.

Margin Money Schemes :
Under this scheme 50% is Bank loan, 40% is Central Corporation Loan, 5% each is from State Corporation and beneficiary and project cost is Rs. up to 5 lacs. Rate of interest for the 40% Central Corporation loan between 6% and State Corporation loan carry the rate of interest @ 6% and Bank charges their Rate of interest as per their terms and conditions.
Micro finance :
Under this Scheme Non-Governmental Organizations which have established the Self Help Groups (SHG) are granted loans up to Rs 5 lacs for disbursement of SHGs. The NGO is expected to distribute this loan to the members of the OBC, the upper limit per beneficiary is Rs.20,000/-. The loan is granted to the NGO @ 5% and NGO is expected to grant the loan to SHG @ 9%. The loan is repayable within 36 months.

Mahila Samrudhi Yojana :-

Under this scheme the loan is sanctioned to Self Help Group up to Rs. 5 lacs for disbursement to the 20 members of Self Help Group. The maximum limit to per member is Rs. 25,000/-. The loan is granted to the members of SHG @ 4% p.a.
Swarnima Scheme :
With a view of empowerment of the women, Central Corporation has introduced this scheme from the current financial year. Under this scheme women having income upto the below poverty level are sanctioned loans up to Rs. 50,000/- for small activity, which carry the interest @ 4% only. The women beneficiaries are not require to contribute 5% and repayment period 2 year more than the normal scheme.

Education Loan :

The scheme was introduced during last year. Under the scheme education loan is sanction to beneficiaries of the Corporation who have secured admission in the professional courses e.g. Health Sciences, Engineering, Computer, Management etc in the institutions which have been approved by the Central Councils. The Maximum Loan p.a. is Rs. 75,000 and Maximum Amount of Loan is Rs. 3 lacs which carry interest @ 4%. The loan is repayable after 6months of the completion of the course in 5 years' period.

Swayam Saksham Scheme

In order to inculcate the spirit of self-confidence among youths through self-employment and utilize their wisdom and expense gained through professional training and education the Corporation may consider providing financial assistance at concessional rate of interest to these professionally trained youths belonging to Backward Classes. Under this scheme loan upto Rs., 5.00 lakhs is sanctioned for starting the activities @ 5%. The beneficiaries between the age group of 18 to 35 are eligible under this scheme. Other conditions are similar to other schemes.

Seed Money Scheme

In addition of Central Corporation schemes, the Corporation is also implementing Seed Money Scheme in collaboration with the Scheduled and Nationalized banks. Under this scheme loan upto Rs. 5.00 lakhs is sanctioned out of which 5% is to be contributed by beneficiaries, 20% is Seed Money Loan @ 6% and 75% is bank loan as per the terms of priority sector lending. Under this scheme the Corporation has so far sanctioned loan to 3484 beneficiaries from June 2000 to September-2004. The amount of the loan is Rs. 6.51 crores. Taking into account the bank loan the 3484 beneficiaries have received approximately Rs. 30.00 crores.

Utilisation :-

The Central Corporation schemes are being implemented from July 2001. Since July 2001 to January-2008, the Corporation has sanctioned the loan under various schemes to 21405 beneficiaries. The amount of loan sanctioned under Central Corporation Schemes is 92.76 crores. Out of this amount of the NBCFDC loan Rs 77.13 crores have been disbursed to 13117  beneficiaries. The details are as under :-


No. of Benef.

(Rs. In Crores)

Term loan
Rs. 61.87
Rs. 4.31
Micro Finance

(through 35 NGO's)

Rs. 2.80
Margin Money
Rs. 2.79
Swayam Sakhshyam
Rs. 2.86
Rs. 4.95
Seed Money Scheme (State Govt. Scheme)

(Total Rs.30.00 Crore incl.Bank Share-75%)

13117 + 6050
Rs. 77.13 + 11.55
Similarly the Corporation has availed the facility of training to 472 beneficiaries and it is proposed to cover about 1000 beneficiaries during the current financial year.

Maharashtra Rajya Itar Magas Vargiya Vitta Ani Vikas Mahamandal .

This Corporation is established on 25 th September 1998. The authorized Share Capital of the Corporation is Rs.50.00 Crores. Out of the said capital Rs.17.87 Crores is paid up capital. The Corporation works for the Welfare of OBC people of the State and Finance at soft interest rate for the self-employment and capacity building of the poor people of OBC community of the State.

The Corporation works as State Chanalling Agency (SCA) of the National Backward Classes Finance and Development Corporation (NBCFDC).

The Corporation has its own offices at all the 35 Districts of the State and has employed 3 employees in each district ie. District Manager, Accountant and Recovery Inspector.

1. Schemes of the Corporation

 A) 20% Seed Money Scheme of State Corporation:-

The Corporation implements this Scheme through lead Banks. Under this Scheme the maximum loan amount is Rs.5.00 lakh and finance structure is as under 20% share of State Corporation 75% Bank's Share & -5% Beneficiary's share.

b)  Schemes of NBCFDC:-

As mentioned above, the Corporation works as SCA of National Corporation. The Schemes of National Corporation viz. General Loan Scheme, Micro Finance & Mahila Samrudhi Yojana are implemented by the Corporation.


  • Beneficiaries should belong to other backward class.
  • Should be a domicile of Maharastra State.
  • Age should be between 18 and 50 years.
  • Should not a defaulter of any of the banks, Corporations or any financial organization.
  • Beneficiary from rural area should have an annual income in the limit
  • of Rs. 40000.
  • Beneficiaries from urban area should have an annual income in the limit of Rs. 54000.
  • Only one person per family can take the benefit of the loan facility.
  • Beneficiary should have knowledge and Experience of the occupation
  • which is selected for loan.
  • Loan terms and conditions should be as per the Corporation
  • Attested copy of the income certificate certifying that the applicant does not fall above the required limit.
  • Caste Certificate, Ration card and passport size photograph.
  • Two Guarantor's certificates.
  • No Objection Certificate of local licensing body.
  • Affidavit stating that applicant will be using the loan amount for the purpose specified.
  • Licence required for Technical Bussiness.
  • Project report for the applied occupation and rate list of Raw material and Equipment required for the bussiness stated.
  • Note:- Applicant should attach attested copies of the documents and not the original copy
  • The applicant must submit the form duly filled in triplicate at the District Office.
   Expectations of the Corporation from Beneficiaries
  • Corporation's loan should be utilised only for the work it is intended for.
  • "With the Financial Aid from MSOBCFDC" should be displayed at the place of work on an easily visible board
  • The information about the Corporation's loan-schemes should be made publicly available to other beneficiaries
  • Only minimum required loan amounts should be demanded
  • There should be no competition with the establised beneficiaries
  • Liability-free business should be carried on by early repaying the loans
  • Utilise the profits for expansion of business by full repayment of loans before the term expires
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