Is there any organization that provides loans/ financial assistance to persons with disabilities?

The National Handicapped and Finance Development Corporation (“NHFDC”) established by Ministry of Social Justice and Empowerment, Government of India on 24.01.1997 through its various schemes provides financial assistance in form of loans to persons with disabilities

How does NHFDC extend loan to the persons with disability?

The NHFDC extends loans to persons with disabilities through

  1. State Channelizing Agencies (“SCA”) nominated by respective state governments and union territories. SCA in Maharashtra being the Maharashtra Handicapped Finance Development Corporation (“MHFDC”) having its office at Mumbai.
  2.  Punjab National Bank, Andhra Bank, IDBI Bank
  3.  Regional Rural Banks RRB in the states of Haryana, Gujarat, Uttar Pradesh and Uttaranchal

Along with persons with disabilities does NHFDC extend loans to Non-Governmental Organizations (“NGO”) as well?

NHFDC along with persons with disabilities also extends loans to NGO

Are Persons with disabilities exempt from paying Toll tax on national highways in India?

As per Rule 11 of The National Highways Fee (Determination of rates and Collection) Rules, 2008, no fee shall be collected by mechanical vehicles specially designed and constructed for use of a person suffering from physical disability.
This is applicable for toll tax on all highways operated by the National Authority of India (NHAI).

Which are the important schemes of NHFDC?

The following are the important schemes of NHFDC

A) ‘Scheme of Financing Assistive Devices To Enhance The Employability Or Increased Opportunity Of Self Employment Of Persons With Disability’

  1. Under this scheme NHFDC provides financial assistance in the form of loans at concessional rates to the needy persons with disabilities for purchasing assistive devices like screen reader, motorized tricycle, scooty, hearing aid etc. in order to
    enhance employability of persons with disabilities who are employed in any reputed organisation and are not provided with any assistive aids
  2.  to improve the prospects of self employment.

B) ‘Divyangjan Swavalamban Yojana’

NHFDC through this scheme aims to bring about economic and overall empowerment of persons with disabilities. In order to achieve this goal NHFDC, under this scheme extends loans at concessional rates for:

  1.  Starting any activity contributing directly or indirectly in the income generation or helping PWD in their overall process of empowerment.
  2. Pursuing higher education after class 12th classes such as                       a) Under –graduate (“UG”)                                                                     b) Post-gratuate (“PG”)                                                                                   c) Professional courses and other courses approved by University Grants Commission (“UGC”), All India Council for Technical Education (“AICTE”), Indian Council of Agricultural Research (“ICAR”), Government etc.
  3. Pursuing vocational or skill development (ITI, Diploma any other course leading to enhancement of employment or self employment)
  4. Purchase and/or fitment of any assistive device(s)/customization/retrofitting or conversion of available machine, equipment, vehicle to disabled friendly mode

C) ‘Loan For Professional/Educational/Training Courses’

Under this scheme NHFDC provides term loan for pursuing higher education either in India or abroad. Any course having employment prospects can avail loan under this scheme.
The loan is extended for

  1.  Graduation courses/ Post graduation courses/ Professional courses
  2. Other courses approved by UGC/Government/AICTE etc.

D) ‘Scheme For Disabled Young Professional’

This scheme focuses on providing loan to professionally educated / trained disabled youths for starting self employment activities. The loan is extended to any disabled person having a professional degree from recognized institute.

E) ‘Scheme Of Financing Construction Of Commercial/Business Premises For Starting Self Employment Activity To Person With Disability’

Under this scheme concessional loan is provided for construction of Commercial/Business premises and for starting self-employment. The Commercial/Business premises constructed under the Scheme must be approved by concerned department i.e. Development Authority or Urban Improvement Trust etc.

F) ‘Micro Financing Scheme’

Under this scheme financial assistance is provided to weaker section of the disabled for starting of augmenting income generation activities. The illustrative nature of income generating activities is given below:

  1.  Small business/trade
  2.  Tiny/cottage industry or service activity
  3.  Artisan activities
  4.  Agricultural and allied activities
  5.  Transport sector activities
  6.  Financial assistance is also provided to Nongovernmental Organizations (NGO) who wish to implement this scheme.

G) ‘Scheme Of Financing NGOs Working In The Area Of Disabilities In Order To Make Social Entrepreneurs’

Under this scheme loans are provided to NGOs working in area of disabilities in order to make them social entrepreneurs by setting up/expansion of an income generating activity for the benefit of the disabled persons.