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Ministry Of Social Justice and Empowerment

Credit Based Schemes For SC - Aajeevika Micro-Finance Yojana (Livelihood Microfinance Scheme)

Scheduled Caste
Application Process
Documents Required
Frequently Asked Questions
Micro finance scheme by Ministry of Social justice and Empowerment for Entrepreneur of Scheduled Caste Category.


To provide prompt and need-based micro finance to eligible scheduled caste persons at a reasonable interest rate through NBFC-MFIs to pursue small/micro business activities.

Financial Assistance up to 90% of Project Cost of Rs. 1,40,000 for small income-generating activities at Interest rates chargeable at 11% (10% for Women)

Eligibility of Non-Banking Financial Company-Micro Finance Institution (MFI)

  1. The Last Mile Financier i.e. NBFC-MFI fulfilling the following norms shall be considered eligible to avail financial assistance from NSFDC:
  2. The NBFC-MFI should be registered with the RBI as Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI).
  3. NBFC-MFI should be following all RBI norms related to Micro Finance.
  4. The NBFC-MFI should have 3 years of continuous profit track record.
  5. The NBFC-MFI should have Gross Non-Performing Assets (NPA) less than 2 % and net NPA below 0.5% as per their Annual Accounts for the preceding financial year.
  6. The NBFC-MFI should be a member of a Credit Bureau.
  7. The NBFC-MFI should have minimum Capacity Assessment Rating of mfr5 by CRISIL or its equivalent.
  8. The NBFC-MFI should not have defaulted in repayment of outside borrowings in the last three years or undergone a corporate debt re-structuring.
  9. The NBFC-MFI should have proper system for internal accounting, risk management, internal audit, MIS, cash management etc. and its annual accounts should have been audited in the last three years.
  10. It will be desirable for the NBFC-MFI to have undergone Code of Conduct Assessment (COCA) with a minimum score of 60 or equivalent.

Unit Cost

The unit cost of the project could be up to Rs.1,40,000/-.

Quantum of Assistance

The NSFDC's share could be up to 90% of the project cost. The balance share shall be contributed by the NBFC-MFI and/or beneficiaries.

Rate of Interest

  1. Individual
    • NSFDC to NBFC-MFI - 4% p.a. for Women , 5% p.a. for Men
    • Interest Spread to NBFC-MFI - 8%
    • NBFC-MFI to Beneficiaries - 12% p.a. for Women, 13% p.a. for Men
  2. Self Help Groups
      • NSFDC to NBFC-MFI - 2% p.a. for Women , 3% p.a. for Men
      • Interest Spread to NBFC-MFI - 8%
      • NBFC-MFI to Beneficiaries - 10% p.a. for Women, 11% p.a. for Men

Interest Subvention

  1. (Applicable only for individual borrowers)
  2. The Individual beneficiaries shall be eligible to get interest subvention @ 2% per annum from NSFDC on timely full repayment of dues on yearly basis. The amount shall be credited by NSFDC directly to the account of the beneficiaries by Direct Benefit Transfer (DBT) after receiving information from NBFC-MFIs about prompt repayment made by the Individual beneficiaries subject to full repayment made by NBFC-MFIs.

Second Loan

After repayment of earlier loan, the eligible beneficiaries can avail further loan under NSFDC schemes from NBFC-MFIs or other channelizing agencies of the NSFDC.


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