Lok Sabha Question No. 1447 (UNSTARRED), answered on 2020-09-20
Subject: Financial Assistance to Underprivileged Sections
Ministry: SOCIAL JUSTICE AND EMPOWERMENT
Asked by: Sarmistha Sethi

## GOVERNMENT OF INDIA MINISTRY OF SOCIAL JUSTICE AND EMPOWERMENT LOK SABHA

UNSTARRED QUESTION NO.1447 TO BE ANSWERED ON. 20.09.2020

## FINANCIAL ASSISTANCE TO UNDERPRIVILEGED SECTIONS

## 1447. SHRIMATI SARMISTHA SETHI:

## Will the Minister of SOCIAL JUSTICE AND EMPOWERMENT be pleased to state:

(a) whether there is any proposal for subsidy on loans given to underprivileged sections of the society:

- (b) if the details thereof: and

the details regarding the financial  assistance provided to  underprivileged sections  under Priority Sector Lending during the last five years?

## ANSWER

## MINISTER OF STATE FOR SOCIAL JUSTICE AND EMPOWERMENT (SHRI KRISHAN PAL GURJAR)

(a) and (b): Yes Madam. This Ministry is going to implement a new financial model for Interest Subvention for   individual   beneficiaries as well as the   Self-Help  Groups (SHGs comprising exelusively of SC' and OBC categories: National Scheduled Castes Finance and Development Corporation (NSCFDC) will be the implementing ageney for SC SHGs/beneficiaries and the National Backward Classes Finance and Development Corporation (NBCFDC) will be the implementing ageney for OBC SHGs beneficiaries.

The objective of the model is to provide direct benefit of lower rate of interest to the eligible SHGs formed under National Rural Livelihood Mission (NRLM) or National Urban Livelihood Mission (NULM) NABARD individual  beneficiaries who have availed loans through Public Sector Banks (PSBs). Regional Rural Banks (RRBs) and similar financial institutions O can be referred as Lending  Institutions.

provided to underprivileged sections of the Society:

1\_ 'Dr. Ambedkar Interest Subsidy on Education Loan for Overseas Studies for Other Backward Classes and Economically Backward Classes: Under the Scheme. interest subsidy accrued on The candidates parental income upto Rs. 8.00 lakh per annum from all sources are eligible for loan under the Scheme. having

- 2 NBCFDC provides loan at concessional rate f interest to underprivileged sections of Backward Classes annual family income less than Rs. 3.00 lakh primarily for income generating activities to promote self-employment opportunities through State Channelizing Ageneies (SCA) the maximum loan limit for income generating activities is up t0 Rs. 15.00 lakh: having

The details of interest subsidy disbursed on education loan under the scheme of Dr: Ambedkar Interest  Subsidy on Education   Loan for   Overseas Studies for Other Backward Classes and Economically Backward Classes during the last five years are as under:

| FY      | EBC            | EBC            | OBC            | OBC            | Total No of Students   | Total Subsidy Iclaimed Amount   |
|---------|----------------|----------------|----------------|----------------|------------------------|---------------------------------|
| FY      | No of Students | Subsidy amount | No of Students | Subsidy amount | Total No of Students   | Total Subsidy Iclaimed Amount   |
| 2015-16 | 250            | 13465826       | 526            | 29036775       | 776                    | 42502601                        |
| 2016-17 | 347            | 36820641       | 653            | 60972304       | 1000                   | 97792945                        |
| 2017-18 | 555            | 52992331       | 1265           | 85354252       | 1820                   | 138346583                       |
| 2018-19 | 903            | 61417907       | 2260           | 148070216      | 3163                   | 209488123                       |
| 2019-20 | 896            | 59488225       | 2400           | 183029884      | 3296                   | 242518109                       |
| Total   | 3003           |                | 7225           | 511594691      | 10228                  | 737576182                       |

The details of . financial assistance provided t0 underprivileged sections of Backward Classes by NBCFDC last five years are as under: during

| FY      |   Financial (in Crore) |   Beneficiaries |
|---------|------------------------|-----------------|
| 2015-16 |                 315.12 |          188158 |
| 2016-17 |                 387.36 |          170555 |
| 2017-18 |                 467.81 |          138588 |
| 2018-19 |                 524.28 |          152844 |
| 2019-20 |                 604.18 |          173524 |