New Swarnima Scheme is special scheme for women belonging to backward classes and who are living below the poverty line. The objective of the scheme is to develop self-reliance amongst women beneficiaries of the target groups by facilitating easy credit facilities for setting up viable economic activities.

Quantum of loans and pattern of financing

Maximum loan amount available under New Swarnima Scheme is Rs.50,000/- per beneficiary.
The pattern of financing is envisaged as under :

1. NBCFDC share - 95%
2. KSBCDC share - 5%
3. Beneficiary Contribution - NIL

ELIGIBILITY
1. The loan shall be extended to the women of backward classes as notified by State Governments from time to time.
2. Annual family income should be below Rs.20,000 in rural areas and Rs.27,500 in urban areas.
3. Age must be between 18 and 50.
4. Preferences should be given to widows, deserted and handicapped women.

Rate of Interest: 4%

Repayment

The entire loan amount shall be repaid within a period of not exceeding 60 months in equated monthly installments. The minimum period that can be allowed for repayment is 36 months.