Self Employment Schemes under West Bengal Minorities Development & Finance Corporation (WBMDFC)

West Bengal Minorities Development & Finance Corporation (WBMDFC.) Offers loan facility to promising entrepreneurs belonging to the minority communities (muslims, christans, buddhists, sikhs, persees) for their financial as well as social advancements.

File photo of Mamata Banerjee, who encourages this scheme
Eligibility :
• Beneficiary must be a notified minorities i.e. Muslim, Christian Buddhist, Sikh and Parsee.
• The annual family income of the beneficiary must not exceed Rs 40000/- in rural areas and Rs 55000/- in urban areas
• He should not be a defaulter in respect of loan taken previously from Banks/ Financial Institutions for similar purpose.
Term  loan  :
Term loan is given for project cost upto Rs. 1,00,000/- on any need based commercially viable scheme. For project cost above 1 lakh upto 5 lakh loan for any scheme can be subject to approval of National Minorities Development & Finance Corporation (NMDFC)
Margin Money Scheme   :
Project cost up to Rs. 5 lakhs is sanctioned by any commercial bank and willing to finance 60% of the project.
West Bengal Minorities Development & Finance Corporation (WBMDFC) may provide loan up to 25% of the project cost. However this assistance is subject to a maximum amount of 1.25 lakhs.
The rate of interest will be 4% on receiving requisition from the sanctioning bank. The recovery of the loan will also have to be proportionately shared.
Cluster Loan :
Loan upto Rs 25,000/- is given for any ongoing scheme and repayable in 23 monthly installments.
Micro Financing :
It provides financial assistance to augment income generating activities like small business, trade, tiny/cottage industry, service activity,artisan activity, agriculture or allied activity, transport sector activity. The scheme provides credit through NGOs. The NGOs may finance the beneficiaries directly or through Self Helf Group. Quantam of loan is upto Rs 6000/- per individual for short term (6 to 15 months) and Rs 10000/- for medium term (2 to 3 years).
How to apply :
When the corporation invites applications, the candidates may submit applications in the prescribed format to Panchayat Samity office and to Sub-Divisional office in rural and Municipal areas respectively. In Kolkata to the GM, DIC Kolkata. For further details, the corporate office of the WBMDFC. may be contacted at the following address:

West bengal minorities development & finance corporation 
Bhabani Bhaban,
2nd floor (west) Alipore,
Phone- 2479-2998 / 2479-2893,
fax- 2479-2995.
E-mail –

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