Aizawl, Nov 16(UNI): The National Scheduled Tribes Finance and Development Corporation (NSTFDC), may prove to be a boon for the economic and social prosperity in Mizoram.
The corporation, under the ministry of tribal affairs, founded in 2001 to give a four per cent interest loan to all the tribals in India, has set up channelising agencies in the state.
The tribal dominated state has not yet fully benefitted the corporation (NSTFDC) due to failure of effective loan recovery.
"It will be difficult to implement the scheme except the Khadi and Village Industry Board(KVIB)," chairman-cum-managing director (CMD) S Bhavani told the chief secretary at his office here today.
She assured that a huge amount of loans would be given out after the KVIB clears at least 50 per cent of the unrecovered loans. Chief Secretary Haukhuma Hauzel said the problems of many Mizo families in utilising loan was due to the meagre amount .
The CMD made it clear that loans up to Rs 5 lakhs could be given as per requirement and a special 4 per cent interest loans to women amounting to Rs 50,000 under AMSYS.
The NSTFDC is organising its northeast India level 2nd regional conference to be hosted by the Mizoram KVI board tomorrow here.
Delegates from Assam, Meghalaya, Sikkim, Arunachal Pradesh and Tripura, apart from Mizoram will be attending the conference.