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Virasat - A Credit Scheme for Craftpersons

The National Minorities Development & Finance Corporation (NMDFC)

The purpose of this scheme is to help Artisians and Craftpersons in meeting their working capital (making products as per the demand in the market) and fixed  capital requirement (machineries, equipments and tools).

Scheme Benefits & Highlights
  • Maximum Loan limit of upto Rs. 10 lac can be availed under the scheme.
  • 1% lower interest rate than charged under term loan scheme (offered by NMDFC). 
  • Further a 1% loan rebate is provided for the women artisians.
  • NMDFC organise Hunar Haat Exhibitions for promoting traditonal crafts. This provides a platform to artisians to sell/get orders for their artefacts.

As per the National Commission of Minorities Act, 1992, Artisians in the notified Minorities are Muslims, Christians, Sikhs, Buddhists, and Parsis. Subsequently, Jains community was also added into the list of notified Minority Communities in January, 2014. Additionally

1. Artisans covered under Credit line-1 ( with annual family income of Rs 81,000 in rural areas and Rs 1.03 lacs in the urban areas.

2. Preference will be given to artisans participating in Hunar Haat exhibitions organised by MNDFC

Artisans already sponsored under the concession credit scheme of the Government will not be eligible to again avail loan under this scheme. 


Required Documents

Respective State Channelizing Agencies (SCAs) nominated by respective State/UT Government implemet this scheme. Generally each Channelizing Agency has an office at district level where the beneficiary is required to make formal application.

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