The North Eastern Development Finance Corporation Ltd. (NEDFi) today introduced its Atmanirbhar Hastshilpkar Scheme to the grass root artisans of the region.
Informing about the scheme, NEDFi in a statement here today said the objective of the scheme is to develop petty artisans of the region by providing financial assistance in the form of term loan for income generating activities for setting up/expansion/ modernization/ working capital requirement and other activities related to the sector.
During the launching ceremony, a total of 17 artisans were provided with credit assistance of Rs.1 lakh each. The credit facility is collateral free and carries a subsidized interest rate of 6 per cent p.a., which is repayable in 24 months. For regular repayment, an incentive of 1 per cent on the interest rate is provided, which will be refunded to the artisans on successful repayment of loans.
NEDFi has also urged eligible artisans to avail the scheme from its registered office in Guwahati and any of its branch offices. A beneficiary can be a registered or unregistered artisan or individual having valid qualification or practicing any art form with no existing load from any other bank or financial institution and must have a bank account. Aadhaar card is optional for an applicant.
It may be mentioned that over the years, the corporation has provided loans to over 7500 projects and taken up several development initiatives through its CSR activities in the eight states of the Northeast.