| West Bengal Backward Classes Development & Finance Corporation |
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| Objectives of the Corporation |
| The main objectives of the Corporation are : |
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| (i) |
To promote economic and developmental activities for the benefit of Backward Classes. |
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| (ii) |
To assist, subject to such income and / or economic criteria as may be prescribed from time to time, individuals or groups of individuals belonging to Backward Classes by way of loans and advances for economically and financially viable schemes. |
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| (iii) |
To promote self-employment and other ventures for the benefit of Backward Classes. |
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| (iv) |
To extend loans to the Backward Classes for pursuing general / professional / technical education or training at graduate and higher level. |
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| (v) |
To assist in the up-gradation of technical and entrepreneural skill of Backward Classes for proper and efficient management of production units. |
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| Nodal Officers |
| Government has declared Project Officer-cum-District Welfare Officers / District Welfare Officers as the Nodal Officers for implementation of the schemes in the districts. |
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| Banker |
| West Bengal State Co-Operative Bank Ltd. has been selected as the sole banker of the Corporation. Different units of this bank along with District Central Co-Operative Banks are acting as conduit for channelising the loan and recovery thereof. |
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| Activities which can be financed |
Loan can be given to any sort of economic activity generating sufficient income to enable the beneficiary to sustain the economic development.
Economic activities can be divided into following broad sectors :- |
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| (i) |
Agricultural and Allied Activities |
| (ii) |
Small Business / Artisan and Traditional Occupation. |
| (iii) |
Service Sector |
| (iv) |
Transport Sector |
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| Schemes having project cost of Rs. 50,000/- or less duly vetted by the Competent Authority can be chosen by the beneficiaries if found feasible and economically viable in the locality. P.O.-cum-D.W.Os may however select economic activities which can be assisted under this programme as per felt need of the district. |
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| Eligibility |
| Members of Backward Classes whose family income is below Rs. 40,000/- in rural area and Rs. 55,000/- in urban area can be given loans by WBBCDFC. Eligible persons having OBC caste certificate from respective competent Authorities (Sub-divisional Officer or Additional District Magistrate for Calcutta) may approach concerned District Officer of the Backward Classes Welfare Department (P.O-cum-DW.O) for availing the loan. |
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| Types of Funding |
| Following types of loan can be granted : |
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| a) |
Term loan :
Loan can be granted upto 95% of the project cost subject to maximum of Rs. 5.00 lakhs. Balance is to be contributed by the beneficiary. |
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| b) |
Micro Finance :
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| Model Financing Pattern |
| Term Loan : |
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| The following pattern of financing is ordinarily envisaged in such proposals : |
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| 1. |
NBCFDC Loan |
85% |
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| 2. |
SCA Loan Share |
10% |
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| 3. |
Beneficiary's contribution |
5% |
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| Rate of Interest |
| There would be two slabs of rate of interest under Term Loan and Margin Money Loan schemes detailed as under : |
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| Limit of Loans |
NBCFDC to SCA |
SCA to Beneficiaries |
Term Loan :
Loan above Rs. 2.00 lakh &
upto Rs. 5.00 lakh |
3% p.a. |
6% p.a. |
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| * 0.5% rebate on timely repayment |
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| Repayment Period |
| Loan together with interest is to be recovered in twenty quarterly equal installments. Simple interest is calculated on reducing balance. Post-dated cheques are collected from beneficiaries before disbursement of loan. |
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