The National Backward Classes Finance and Development Corporation (NBCFDC) distributed loan amongst the families belonging to the Backward Classes living below the poverty line. About 10 lakh families got the benefit of this loan.
According to the official release the NBCFDC has assisted more than 1.21 lakh beneficiaries by disbursing a loan amount of Rs 141.31 crore during 2007-08. Through accruing process it has assisted more than 9.51 lakh families of Backward Classes living below the poverty line with a loan amount of Rs 1,364.77 crore.
The commission through Self Help Groups (SHG) has started Micro Finance Schemes and Educational Loan Scheme 'New Akanksha' for technical and professional courses at graduate and higher levels.
As per the reports of the corporation against paid up capital of Rs 491.35 crore, the Corporation has disbursed Rs 1,364.77 crore at the end of Financial Year 2007-08.
Loan amount of Rs 873.42 crore over and above the budgetary support was disbursed by recycling of repayments and recoveries and efficient management of internal resources.
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