Our Reporter
Dimapur, Jan. 15 (EMN): To promote entrepreneurship among the Scheduled Tribe (ST) community across the country, the National Scheduled Tribe Finance and Development Corporation (NSTFDC) under the Ministry of Tribal Affairs, government of India, has recently decided to offer 15% of the total 25% margin for those applicants availing loan under the Stand-up India flagship programme.
This was disclosed by NSTFDC director and national vice chairman of the Tribal Indian Chamber of Commerce and Industry (TICCI), Johny G Rengma during a press conference at Hotel Lake Shilloi in Dimapur on January 15. Johny stated that NSTFDC would provide 15% of the total 25% margin money of the collateral free loan for those applicants availing loans under Stand-Up India for the tribal people of Nagaland.
Terming the move as a major boost for ST entrepreneurs, Johny informed that the decision to this effect was taken on December 7 last. With the announcement made, John urged the Naga entrepreneurs to avail the opportunities. He added that NSTFDC has enough money to carry out awareness programmes seminars and exhibitions for the benefit of the people.
John stated that the government of India has already authorised bank to give loans to the tribals without any collateral guaranty in order to start any kind of business.
According to Johny, the beneficiaries have to submit the project proposal to any nationalised bank along with Adhaar card, ST certificate and trade licence, including the balance sheet in case of already existing business, to avail the loan. Under the programme, entrepreneurs could avail loan ranging from INR 10 lakh to one crore.
Nagaland being a land-lock state, John informed that the corporation would give more emphasis on land transport.