National Scheduled Castes Finance and Development Corporation

• Context (TH): The Parliamentary Standing Committee on the Welfare of Scheduled Castes and Scheduled Tribes pressed for the induction of an SC candidate into the Board of Directors of National Scheduled Castes Finance and Development Corporation (NSFDC).

• The Committee also sought an update on the non-performance of 20 of the 37 State SC Development Corporations.

National Scheduled Castes Finance and Development Corporation (NSFDC)

• NSFDC was set up as the National Scheduled Castes and Scheduled Tribes Finance and Development Corporation (NSCSTFDC) in 1989.
• After 2001, it is solely working for the empowerment of Schedules Castes.
• It is a fully owned GoI Company under Section 8 of the Companies Act, 2013, working under the Ministry of Social Justice & Empowerment (MOSJ&E).
• It is headquartered in Delhi.
• It provides financial assistance for income-generating schemes for the target group through State Channelising Agencies (SCAs).
• It also supplies funds for the economic empowerment of scheduled caste persons having annual family income up to Rs. 3.00 lakh for both rural and urban areas.
• It is governed through the Board of Directors with representation from the Central Government, State Scheduled Castes Development Corporations, Financial Institutions and non-official Scheduled Castes members.