National Backward Classes Finance & Development Corporation (NBCFDC)
The National Backward Classes Finance & Development Corporation (NBCFDC) is a Government of India undertaking functioning under the Ministry of Social Justice and Empowerment. It was incorporated on 13 January 1992 under Section 25 of the Companies Act, 1956 (now Section 8 company), as a not-for-profit organization.
Its primary aim is to promote the economic and developmental welfare of backward classes and support poorer sections through financial assistance, skill development, and self-employment opportunities.
Vision
To play a leading role in uplifting the economic condition of backward classes and weaker sections of society.
Mission
To provide concessional financial assistance for self-employment ventures and skill development training to eligible members of backward classes.
Objectives
NBCFDC works to improve the socio-economic condition of eligible beneficiaries through the following objectives:
- Promote economic and developmental activities for the benefit of backward classes.
- Provide concessional loans and advances to individuals or groups for viable income-generating schemes and projects.
- Extend educational loans for general, professional, vocational, and technical courses at graduate and higher levels.
- Support gainful employment and entrepreneurship development through skill upgradation and training.
Financial Assistance
NBCFDC provides financial support mainly through State Channelizing Agencies (SCAs) nominated by State Governments and Union Territories. It also offers microfinance through SCAs and Self Help Groups (SHGs).
Major Sectors Covered
The corporation finances a wide range of income-generating activities, including:
- Agriculture and Allied Activities
- Small Business, Artisan and Traditional Occupations
- Technical and Professional Trades/Courses
- Transport and Service Sector
Target Beneficiaries
Apart from Other Backward Classes (OBCs), NBCFDC also supports:
- Economically Backward Classes (EBCs)
- De-notified, Nomadic and Semi-Nomadic Tribes
- Senior Citizens
- Beggars
- Transgender persons
Significance
NBCFDC is an important institution for inclusive growth, poverty alleviation, social justice, and empowerment. By promoting entrepreneurship, education, and livelihood generation, it contributes to reducing inequality and strengthening social welfare in India.
