National Backward Classes Financial and Development Corporation (NBCFDC) which comes under the Ministry of Social Justice and Empowerment has been set up under Section 25 of the Companies Act 1956. NBCFDC recently won the Scope Meritorious Award 2008-09 for Best PSE under Section 25. The corporation was incorporated on January 13, 1992 as a company not for profit, but with an objective of promoting economic development for the benefit of Backward Classes and to assist the poorer sections of these classes in skill development and self-employment ventures. Thus the corporate vision circumferences the idea of upliftment of backward sections of society whose annual income is within double the poverty line.

• NBCFDC provides financial assistance through its 46 State Channelising Agencies (SCAs) nominated by the State Governments/UTs.
• The corporation has made a cumulative disbursement of Rs 1658.94 crore to these agencies for assisting 11, 87,756 beneficiaries.
• It also provides Micro Financing through SCAs/ Self Help Groups (SHGs). The company is constantly working towards creating new possibilities in the area of self-employment, education development, skill training and marketing support.
• The marketing support given by NBCFDC allows its beneficiaries to market their goods through India International Trade Fair, Dilli Haat and Suraj Kund Craft Mela giving them the necessary marketing exposure.
• The target group that the PSU tries to reach out comprises artisans, fishermen and small businessmen.
• The data till March 31, 2010 confirms that the corporation has a share capital of Rs. 700 crore, against which the Ministry has so far released Rs. 562.35 crore.
• Small-scale industries are assisted for upgradation of technical and entrepreneurial skills of backward classes for proper and efficient management of their production units. So how does the corporation keep a check on whether the loan thus disbursed is being utilized at the right place or not? NBCFDC has a monitoring mechanism in place for the implementation of its schemes. It has also advised the SCAs to get their schemes evaluated through independent agencies. The NBCFDC also gets conducted evaluation studies and auditing.
• With a view to ensuring the authenticity of the transaction and to monitor/verify the utilisation and repayment of a loan; the system of Beneficiary Loan Card has been introduced by the PSU.

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