NBCFDC – 15 Lakhs | 8% p.a | A Government Scheme – Comprehensive Guide


In a diverse country like India, where socio-economic disparities have been a longstanding challenge, initiatives that promote inclusive growth and upliftment of marginalized communities are of paramount importance. Recognizing the need to foster economic independence among citizens belonging to backward classes, the Ministry of Social Justice introduced the National Backward Classes Finance & Development Corporation (NBCFDC) scheme. This public loan scheme is not just a financial initiative; it represents the government’s commitment to fostering entrepreneurship and facilitating income-generating activities among the backward classes.

The Genesis of NBCFDC Scheme

The NBCFDC scheme emerges from a broader vision of ensuring equitable growth and opportunities for every citizen, irrespective of their socio-economic background. By providing financial assistance, the scheme aims to empower individuals from backward classes to pursue various income-generating activities, thereby enhancing their livelihoods and contributing to the overall economic development of the nation.

Financial Provisions and Interest Rates

Central to the NBCFDC scheme is its provision of loans to eligible beneficiaries. The financial assistance offered is tailored to cater to a diverse range of income-generating activities, including agriculture, small-scale industries, transport, service sectors, and technical and professional trades. The scheme provides loans up to ₹15 lakh per beneficiary, with varying interest rates based on the loan amount:

  • For loans up to ₹5.00 lakh: A competitive interest rate of 6% p.a. is applicable.
  • For loans ranging from ₹5.00 lakh to ₹10.00 lakh: The interest rate stands at 7% p.a.
  • For loans between ₹10.00 lakh and ₹15.00 lakh: A rate of 8% p.a. is charged.

Also Read….. Only Aadhar And PAN Card Needed

Such tiered interest rates ensure that beneficiaries have access to affordable credit, facilitating their entrepreneurial journey and promoting sustainable growth.

Eligibility Criteria: A Gateway to Inclusivity

While the NBCFDC scheme aims to reach out to a broad spectrum of individuals, certain eligibility criteria have been established to ensure that the benefits are directed towards those who need them the most:

  1. Entrepreneurial Spirit: The applicant must exhibit an entrepreneurial mindset, demonstrating a genuine intent to engage in income-generating activities.
  2. Belonging to Backward Category (OBC): To align with the scheme’s objective of uplifting backward classes, applicants must belong to the OBC category.
  3. Economic Criteria: Recognizing the financial constraints faced by many, especially in marginalized communities, the scheme stipulates that the applicant’s total annual family income should not exceed ₹3 lakh per annum.

Application Process: A Simplified Approach

Ease of access and a streamlined application process are crucial to the success of any public scheme. The NBCFDC scheme has been designed with a clear and straightforward application procedure to ensure that eligible individuals can avail of its benefits without unnecessary hurdles:

  1. Application Submission: Eligible individuals can obtain the prescribed application form from the district office of the channel partners. This decentralized approach ensures that applicants can access the necessary forms conveniently, minimizing logistical challenges.
  2. Detailing Requirements: The application form provides applicants with an opportunity to articulate their requirements comprehensively. From specifying the desired loan amount to detailing their chosen career path and training needs, applicants can provide a holistic view of their aspirations and how the loan will facilitate their journey.


The NBCFDC scheme stands as a beacon of hope and opportunity for millions of individuals belonging to backward classes in India. By providing financial assistance at affordable interest rates and fostering an environment conducive to entrepreneurship, the scheme not only uplifts individual beneficiaries but also contributes to the nation’s broader economic growth and development. As the government continues to roll out initiatives that prioritize inclusivity and empowerment, schemes like NBCFDC serve as a testament to the transformative power of targeted interventions in driving socio-economic progress.

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