Virasat Loan Scheme of NMDFC
Concessional credit of up to Rs.10.00 lacs can be availed under Credit Line-1 & 2. to meet Working Capital and Fixed Capital for purchase of equipment/tools/machineries/raw material by the Minority Artisan.
About This Scheme
This scheme is part of the Term Loan scheme and is implemented with the objective to meet Working Capital and Fixed Capital for purchase of equipment/tools/machineries/raw material. Maximum loan of upto Rs.10.00 lacs can be availed under Credit Line-1 & 2. Simple interest of 5% p.a. is charged under Credit Line-1 and at 6% p.a. from Male Artisan under Credit line- 2. Concession of 1% is provided to Female Artisan under both the Credit Lines.
Benefits
Concessional Credit to the beneficiaries among minority communities.
Eligibility Criteria
a) The applicant must be Indian and belong to one of the six notified minority communities: Muslim, Christian, Sikh, Buddhist, Parsi, or Jain.
b) The annual family income of the applicant shall not exceed:
Rs. 3.00 lakh per annum under Credit Line–1.
Rs. 8.00 lakh per annum under Credit Line–2.
c) The applicant must be an artisan or craftsperson engaged in a traditional occupation (such as handloom, handicraft, metalwork, leatherwork, embroidery, pottery, etc.).
d) The applicant should have basic skills or certification in the relevant craft or trade, verified by a competent authority or local body.
e) The loan shall be used for procurement of tools, equipment, raw materials, or working capital to enhance production and market linkage.
f) Preference shall be given to women artisans and occupational clusters in minority-dominated areas.
g) The applicant should not be a beneficiary of any other similar artisan financing scheme at the time of application.
h) The beneficiary must possess a valid Aadhaar-linked bank account and minority certificate.
Application Process
Apply Offline
NMDFC implements its schemes & programs through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA ) nominated by the respective State Governments & Banking Partners (Presently through Canara Bank & Punjab Grameen Bank).
Official Source: View on myScheme.gov.in
Benefits
Concessional Credit to the beneficiaries among minority communities.
Application Process
Apply Offline
NMDFC implements its schemes & programs through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA ) nominated by the respective State Governments & Banking Partners (Presently through Canara Bank & Punjab Grameen Bank).
References & Official Links
Scheme Details
| Full Name | Virasat Loan Scheme of NMDFC |
| Short Title | VLS-NMDFC |
| Level | Central |
| Scheme For | Individual |
| Ministry | Ministry Of Minority Affairs |
| Categories | Banking,Financial Services and Insurance |
| States | All India |
| Gender | All |
| Caste/Category | Minority |
| Area | Both |
| Source | www.myscheme.gov.in ↗ |
Deepika Raikwar · 📅 20 May 2026
Deepika Raikwar is an Education Analyst and scholarship researcher who focuses on public welfare and merit-based scholarships. She simplifies complex eligibility rules, deadlines, and application processes to help common people access reliable funding opportunities worldwide.
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