The
National Handicapped Finance and Development Corporation (NHFDC) provided loans
on concessional rates to the persons with disabilities.
The
scheme-wise maximum repayment period is as follows: (i) Self Employment Scheme
– 10 years (ii) Micro Credit Scheme – 3 years & (iii) Education Loan Scheme
– 7 years. The repayment under education
loan scheme commences one year after completion of course or six months after
securing a job, whichever is earlier.
NHFDC has delegated sanctioning authority for loan
proposals costing upto Rs.5.00 lakh to its State Channelizing Agencies (SCAs). Only the loan
proposals with project cost above Rs.5.00 lakh are forwarded by SCAs to
NHFDC. In case of Regional Rural Banks,
those entered in collaborative tie up with NHFDC for implementation of its
schemes and Apex Co-operative Banks, State Financial Institutions acting as
SCAs, the sanctioning authority is upto Rs.25 lakh.
For
greater emphasis in the XII Plan, the Working Group on empowerment of persons
with disabilities constituted by the Planning Commission has, inter-alia, made
recommendations for grant of back end subsidy for loans given by NHFDC, grant
for skill development, grant for interest free education loan &
reimbursement of one time guarantee fee and annual service charges in
implementing credit guarantee scheme while extending loans to persons with
disabilities under NHFDC scheme.
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