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Name of the product NMDFC Term loan for Backward Sections amongst minorities.

Nature of Facility Term Loan.

Objective To provide concessional credit for self employment activities.

Purpose The facility shall be available for any commercially viable and technically feasib

venture which for the sake of convenience has been into the following sectors:

Agriculture & Allied

Technical Trade Small Business

Artisans & Traditional Occupation

Transport & Service Sector

Eligibility

AgeQualification

Permanent unemployed Residents of J&K state belonging to backward

sections amongst minorities (Muslims, Christians, Sikhs, Buddhists and

Parsis), living below double the poverty line.

[Persons having annual family income of less than Rs 40,000/- in Rural area

and Rs. 55,000/- in Urban areas fall in the category of Below Double the

Poverty line.]

18-45 years

Matric & above(lower qualification can be considered on case to case basis)

Applicants already availing any other central/state sponsored scheme and

having loan outstanding against them are not eligible.

Quantum of finance Maximum Quantum of Finance is Rs 5.00 Lakh with the following components:

NMDFC Loan: 85% of the sanctioned amount.

JKEDI Loan: 10% of the sanctioned amount.

Beneficiary Margin: 5% of the sanctioned amount.

Security Amount of Loan Security to be furnished

A. For loans upto Rs 50,000.00 1. Self Guarantee

2. Post dated cheques (PDCs).B. For loans exceeding Rs.50,000/- and upto Rs 2,00,000/-

Lakhs.

1. Third Party Guarantee of employee oGovernment/ Bank/PSU with at leas

seven years of remaining service oincome tax payee.

2. Post dated cheques (PDCs).

C. For loans exceeding Rs.2,00,000/-.

1. Third Party Guarantees of two (2employees of Government/ Bank/PSU

with at least seven years of remainin

service or income tax payee.

2. Post dated cheques (PDCs).Processing Charges 1.00% of the total sanctioned amount to be paid upfront

Rate of Interest Simple interest @ 6.00% per annum.

Repayment Tenor: A door-to-door tenor of five years.

Installments: 20 equal quarterly installments starting after three months

disbursal, secured by way of PDCs

Origination Documents Duly filled in prescribed application form

Photographs of the borrower and the guarantor

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Guarantors personal statement

Copy of Ration Book depicting the income status of the family.

Proof of identification of the borrower and the Guarantor(s) (Photostat copy

Voter ID, Passport, Driving License or any other such card issued by a

government agency duly attested by the DDO)

Proof of Residence of the borrower and the Guarantor(s) (Photostat copy

Voter ID, Passport, Driving License ,Ration Card or any other such Docume

duly attested by a Gazetted officer)

Proforma invoice (Wherever Applicable)

A simple estimation statement from the borrower

Rent deed (Wherever Applicable)

Personal affidavit on a prescribed format.

Income certificate issued by concerned Tehsildar

Legal Documentation Composite Term loan Agreement

Self or third party Guarantee Deed (s); as applicable

Post dated cheques.