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Virasat Loan Scheme of NMDFC
Ministry: Ministry Of Minority Affairs
Concessional credit of up to ₹10,00,000/- can be availed under Credit Line-1 & 2. to meet Working Capital and Fixed Capital for purchase of equipment/tools/machineries/raw material by the Minority Artisan.
Last verifiedToday
Source: myScheme.gov.in ↗Last verified: 5 Oct 2026·YojnaGuru is not affiliated with or endorsed by any government body
About This Scheme
This scheme is part of the Term Loan scheme and is implemented with the objective to meet Working Capital and Fixed Capital for purchase of equipment/tools/machineries/raw material. Maximum loan of upto ₹10,00,000/- can be availed under Credit Line-1 & 2. Simple interest of 5% p.a. is charged under Credit Line-1 and at 6% p.a. from Male Artisan under Credit line- 2. Concession of 1% is provided to Female Artisan under both the Credit Lines.
Benefits
- Concessional Credit to the beneficiaries among minority communities.
Eligibility
Note: You may be eligible based on the information shown. Please verify the official eligibility requirements before applying.
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a) The applicant must be Indian and belong to one of the six notified minority communities: Muslim, Christian, Sikh, Buddhist, Parsi, or Jain.
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b) The annual family income of the applicant shall not exceed:
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Rs. 3.00 lakh per annum under Credit Line–1.
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Rs. 8.00 lakh per annum under Credit Line–2.
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c) The applicant must be an artisan or craftsperson engaged in a traditional occupation (such as handloom, handicraft, metalwork, leatherwork, embroidery, pottery, etc.).
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d) The applicant should have basic skills or certification in the relevant craft or trade, verified by a competent authority or local body.
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e) The loan shall be used for procurement of tools, equipment, raw materials, or working capital to enhance production and market linkage.
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f) Preference shall be given to women artisans and occupational clusters in minority-dominated areas.
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g) The applicant should not be a beneficiary of any other similar artisan financing scheme at the time of application.
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h) The beneficiary must possess a valid Aadhaar-linked bank account and minority certificate.
Required Documents
- ✦Filled Application Form (individual artisan).
- ✦Recent Photograph of the applicant.
- ✦Proof of Minority Status (certificate or self-declaration).
- ✦Income Certificate issued by competent authority.
- ✦Proof of Residence: Aadhaar card, voter ID, ration card, or similar.
- ✦Identity Proof: Aadhaar card/PAN card.
- ✦Proof of Occupation/Skill: Artisan ID card from Development Commissioner (Handicrafts/Handlooms) or Certificate from local artisan cooperative/society/panchayat.
- ✦Project Proposal or Requirement List (tools, machinery, raw materials, etc.).
- ✦Quotation/Estimate from supplier(s).
- ✦Bank Account Proof: Aadhaar-linked bank passbook.
- ✦No Dues Certificate (if previously assisted).
- ✦Affidavit/Self-declaration confirming non-benefit from other similar artisan loan schemes.
✦ Required ◦ Optional
How to Apply
IIn-person
- NMDFC implements its schemes & programs through State Channelizing Agencies (SCA list: www.nmdfc.org/SCA ) nominated by the respective State Governments & Banking Partners (Presently through Canara Bank & Punjab Grameen Bank).
Quick Info
- Level
- Central Government
Categories
Data Sources
- https://www.myscheme.gov.in/schemes/vls-nmdfc ↗Accessed Today
- https://www.myscheme.gov.in/schemes/vls-nmdfc ↗Accessed 8 days ago
- https://www.myscheme.gov.in/schemes/vls-nmdfc ↗Accessed 15 days ago
- https://www.myscheme.gov.in/schemes/vls-nmdfc ↗Accessed 23 days ago
- https://www.myscheme.gov.in/schemes/vls-nmdfc ↗Accessed 1 months ago
- https://www.myscheme.gov.in/schemes/vls-nmdfc ↗Accessed 1 months ago
- https://www.myscheme.gov.in/schemes/vls-nmdfc ↗Accessed 1 months ago