NBCFDC becomes one of the Top Ten PSEs for the Fourth time
National Backward Classes FINANCE AND DEVELOPMENT CORPORATION (NBCFDC) has achieved a distinction of being the recipient of MOU Award becoming one of the top Ten PSEs for the fourth time in 2006-07 rated by the Department of Public Enterprises, Government of India. The Prime Minister, Dr. Manmohan Singh presented the MOU Award to A.A. Naqvi, Managing Director of the Corporation, during the conference of Chief Executive Officers of Central Public Sector Enterprises. This Corporation is the only PSE recipient of MOU Award under Ministry of Social Justice & Empowerment. Consecutively for the 9th year (2008-09), NBCFDC has achieved excellent results with respect to all the MOU parameters. NBCFDC was setup in the year 1992 to promote economic and developmental activities for the benefit of Backward Classes living below double the poverty line. This Corporation has consistently given excellent results during the XIth Plan and upto 30th September, 2009, Corporation has cumulatively disbursed loan of Rs. 1585.56 crore to benefit over 11.50 lakh beneficiaries in 27 States and union territories. The Corporation has received a budgetary support of Rs. 558.85 crore out of Authorized Share Capital of Rs.700 Crore. Rs.1026.71 crore over & above budgetary support has been recycled. Recovery of loan is about 87%. Sh. Naqvi, MD, NBCFDC informed that the efficient management of internal resources resulted in exceeding the target each year for release of funds to the State Channelising Agencies (SCAs) for eligible members of backward classes.
Shri Naqvi, M.D., NBCFDC informed that Corporation has targeted to double the achievements expecting adequate budgetary support by Govt. of India during XIth Five Year Plan and through strengthening the delivery system and further simplifying the procedures so that the funds reach the ultimate beneficiaries in shortest possible time.
Shri Naqvi, M.D., NBCFDC informed that Corporation has targeted to double the achievements expecting adequate budgetary support by Govt. of India during XIth Five Year Plan and through strengthening the delivery system and further simplifying the procedures so that the funds reach the ultimate beneficiaries in shortest possible time.
Courtesy: Ministry of Social Justice & Empowerment release
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