Process eased, poor to get govt loan of up to ` 3L in 15 days
New Delhi: The marginalised sections of society will now be able to take loan from Delhi government’s finance corporation quickly and without much hassles. The board of directors of the Delhi SC/ST/OBC/Minorities and Handicapped Finance Development Corporation (DSFDC) gave approval to a slew of measures to simplify the process to avail loan from the body.
A statement issued by Delhi government’s SC/ST welfare department said the government institution will now process the loan up to Rs 3 lakh within 15 working days, instead of 45 days. The financial institution will try to disburse the loan amount of up to Rs 40,000 to street vendors the same day of receiving the application. The decision was taken at the 159th board meeting of DSFDC under the chairmanship of SC/ST welfare minister Rajendra Pal Gautam.
The corporation is a state-level institution for financing, facilitating and promoting the economic developmental activities for all-round development and economic uplift of the members of Scheduled Castes/ Scheduled Tribes/ Other Backward Classes, minorities, safai karamcharis and handicapped who are living below the poverty line in the national capital.
In case of application for a loan of more than Rs 2 lakh, the guarantor will have to give an undertaking in place of postdated cheques.
The board also decided to open a new branch of the institution in south Delhi and the financial schemes offered by the institution will be publicised to help more people of the marginalised communities.