Micro Credit Finance Scheme

Access to small loans can help you start or grow a small business, support your family, and improve your life. The Maharashtra Government Micro Credit Finance Scheme gives you that chance. Whether you're a street vendor, tailor, or small farmer, you can now borrow small amounts of money with fewer conditions and simple paperwork.

You don’t need to depend on informal moneylenders or worry about high interest. This scheme supports self-employment, especially for people in rural and urban low-income areas. If you want to build something on your own but don’t know where to start, this scheme is made for you.

The micro credit finance scheme supports income generation through small-scale businesses and self-employment. It offers low-interest loans with simple conditions and quick processing. You can apply alone or as part of a group, with special support for Safai Karamcharis, scavengers, and their dependants. 

The scheme is implemented through SCAs (State Channelising Agencies), RRBs (Regional Rural Banks), and Nationalised Banks (Government-owned banks like SBI and Bank of Baroda). Here are the key details of the scheme:

Disclaimer: The details provided in this table are for general information only. Please refer to official government sources or authorised agencies for the latest and accurate scheme guidelines.

This scheme is simple to understand and apply. You can get a loan from a government-approved agency or corporation. The agency may work with banks or self-help groups to give the loan directly to you. You will repay the loan monthly or as agreed. Here’s how it works:

• You apply through a recognised office or online portal

• Your application is checked for basic eligibility

• Once approved, the loan amount is given to you

• You repay the loan in instalments over 1–3 years

To apply for the micro credit finance scheme, you must meet the following conditions:

• You must belong to a Scheduled Caste (SC) community

• Your annual family income should not exceed ₹3,00,000, whether you live in a rural or urban area (as per update on 08.03.2018)

• Partnership firms and co-operative societies can also apply, provided that:

• All members of the firm or society belong to a Scheduled Caste community

• The annual family income of each member must be below ₹3,00,000

Note: Eligibility verification is handled by the State Channelising Agencies (SCAs) or Channelising Agencies (CAs). However, NSFDC reserves the right to re-verify applicant eligibility if required.

You need to submit basic documents to prove your identity, income, and eligibility. Here is the list of required documents:

• Caste certificate confirming Scheduled Caste status

• Income certificate issued by a competent authority

• Aadhaar Card (used as primary identity proof)

• Proof of residence (such as electricity bill, voter ID, or ration card)

• Bank passbook or bank account details

• Passport-size photograph

• Any other documents requested by the implementing agency or lending institution

You can apply offline for the micro credit finance scheme by following these simple steps:

1. Visit the District Office of the State Channelising Agency (SCA) to apply for financial assistance

2. Fill in the loan application form provided by NSFDC and attach all required documents, including caste and income certificates

3. Submit your application to the SCA or any authorised Channelising Agency such as RRBs, Public Sector Banks, or NBFC-MFIs partnered with NSFDC

4. The District Office will verify your documents and check your eligibility

5. Verified applications are sent to the Head Office of the SCA or Channelising Agency for further review

6. The Head Office assesses your business proposal to confirm its feasibility

7. Viable proposals are sent to NSFDC along with the SCA’s official recommendation

8. NSFDC reviews the proposals and prepares an appraisal report for the Project Clearance Committee (PCC)

9. If approved by the PCC, NSFDC issues a Letter of Intent (LOI) with terms and conditions to the concerned agency

10. After the agency accepts the terms and fulfils necessary norms, NSFDC releases the funds to the agency

11. The agency then disburses the approved loan amount to you as the final beneficiary

12. You repay the loan in instalments as per the schedule set by the agency

Note: You must apply through authorised SCAs or Channelising Agencies; NSFDC does not accept direct applications.

The Maharashtra Government Micro Credit Finance Scheme helps you start or grow a business with low-interest loans, no collateral, and simple paperwork. You can access up to ₹1.25 Lakhs through SCAs, RRBs, and Nationalised Banks, with flexible repayment terms. From eligibility to disbursement, the process is clear and accessible—especially for marginalised communities. If you're ready to take control of your income, this scheme offers a strong foundation to begin.