|Schemes for Parent's Association of Mentally Retarded Persons|
|Friday, 19 August 2011 10:53|
Schemes for Parent's Association of Mentally Retarded Persons
Purpose of the scheme is to provide loan to parents associations of mentally retarded persons to set up an income generating activity for the benefit of the mentally retarded persons. The nature of income generating activity will be such that it involves the mentally retarded persons directly and income will be distributed among the mentally retarded persons. The income generating activity will be managed by the parents association, which is expected to render its services voluntarily
Quantum of Loan –
Quantum of loan to each Parents Association is limited to Rs. 5.00 lakh. The share of the Parents Association will be 5% of the project cost. The loan will be used by the Parents Association to implement a single or multiple activity projects in which the maximum possible participation of the beneficiaries may be ensured
Rate of Interest –
The interest on the loan amount will be charged as per following table-
i) Upto Rs. 50,000/- - 5% p.a.
ii) Above Rs. 50,000/- and upto Rs. 5.0 lakh. - 6% p.a.
A rebate of 1% p.a. on interest for disabled woman.
Repayment Period –
The loan amount including interest will be repaid within 10 years in equal quarterly installments.
Procedure for Obtaining Loan –
The loan application under the scheme will be submitted to National Handicapped Finance and Development Corporation directly by the Parents Association
For further information please visit- http://www.nhfdc.org
|Last Updated on Thursday, 17 November 2011 12:18|