Source: News on Air
Subject: Miscellaneous
Context: The National Backward Classes Finance & Development Corporation (NBCFDC) recorded its highest-ever disbursement of ₹613 crore in FY 2025-26, marking a 16% increase over the previous year.
About National Backward Classes Finance & Development Corporation (NBCFDC):
What it is?
- NBCFDC is a Government of India Undertaking operating as a Not-for-Profit company. It functions under the aegis of the Ministry of Social Justice and Empowerment to provide financial and developmental support to the marginalized sections of society.
Established In:
- It was incorporated on January 13, 1992, under Section 25 of the Companies Act, 1956 (now Section 8 of the Companies Act, 2013).
Aim:
- The primary objective is to promote economic and developmental activities for the benefit of Backward Classes. It specifically targets the poorer sections of these classes to assist them in skill development and self-employment ventures.
Functions:
- Financial Assistance: Provides credit for income-generating activities through State Channelizing Agencies (SCAs) nominated by State Governments/UTs and through Micro Finance via SHGs.
- Sectoral Support: Assists ventures in broad sectors including:
- Agriculture and Allied Activities.
- Small Business/Artisans and Traditional Occupations.
- Technical and Professional Trades/Courses.
- Transport and Service Sectors.
- Skill Development: Facilitates vocational training and upskilling under the PM-DAKSH (Pradhan Mantri Dakshta Aur Kushalta Sampann Hitgrahi) Yojana.
- Grant Utilization: Implements specific welfare programs like the VISVAS Interest Subvention Scheme and the National Fellowship for OBCs.
- Target Group Expansion: Beyond OBCs, it assists Economically Backward Classes (EBCs), De-notified, Nomadic and Semi-Nomadic Tribes, Senior Citizens, Transgender persons, and Beggars.
Significance:
- By utilizing 99% of its funds and ensuring 100% geographical coverage, the corporation ensures that credit reaches the last mile of the backward regions.
- The VISVAS Scheme reduces the interest burden on small entrepreneurs and SHGs, making self-employment more viable.
