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Economy
Mahesh

06/11/22 17:09 PM IST

Centre likely to raise authorised fund in NSFDC by Rs 1,000 crore

In News 
  • The Centre is contemplating increasing authorised share capital of the National Scheduled Castes Finance and Development Corporation (NSFDC) by Rs 1,000 crore to Rs 2,500 Crore.
NSFDC 
  • It is a 1989 non-profit company with the aim to provide loans through its Channelizing Agencies at concessional interest rates for self-employment & economic development activities to scheduled caste groups. 
  • The NSFDC provides loans through its Channelizing Agencies at concessional interest rates for self-employment & economic development activities to its target group.
  • NSFDC also sponsors skill/entrepreneurial training programmes to assist the unemployed members of scheduled castes in wage/self-employment.
  • The Central Government has almost exhausted its contribution of authorized share capital of Rs. 1000 crore by paying Rs.998.13 crore to NSFDC.
  • Hence, it became essential to enhance the Authorized Share Capital of the Corporation to expand its ambit of work.
Source- Business standard 

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