What is the News?
North Eastern Development Finance Corporation Ltd. (NEDFi) has launched Atmanirbhar Hastshilpkar Scheme for the grass root artisans in the North East Region.
About Atmanirbhar Hastshilpkar Scheme
Aim: To develop the artisans of the North Eastern Region by providing them financial assistance in the form of term loans for income-generating activities like setting up / expansion/modernization and other activities related to the sector.
Key Features of the Atmanirbhar Hastshilpkar Scheme
Under the scheme, a total of 17 artisans have already been provided with credit assistance of Rs.1 lakh per artisan.
The credit facility is collateral-free and carries a subsidized interest rate of 6% p.a., which is repayable in 24 months.
For regular repayment, an incentive of 1% on the interest rate is provided, which will be refunded to the artisans on successful repayment of loans.
Eligibility Criteria: The interested artisans can apply for the scheme with the following eligibility criteria:
- Registered/ unregistered artisan/ Individual
- Having valid qualifications or practising any art form
- No existing loan from any other bank/ financial institution
- Bank Account
Source: This post is based on the article “NEDFI Announces New Scheme Atmanirbhar Hastshilpkar Scheme for the Artisans under Ministry of Doner” published in PIB on 10th Dec 2021.