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Resource id #3 NCPEDP to conduct an audit on the NHFDC's operations - Volume 1 Issue 5: Disability News and Information Service for India

News

Volume 1 Issue 5 - November 01, 2003

NCPEDP to conduct an audit on the NHFDC's operations

DNIS News Network -- The cross-disability advocacy NGO, National Centre for Promotion of Employment for Disabled People (NCPEDP), is compiling an audit report on the functioning of National Handicapped Finance and Development Corporation (NHFDC).

The NHFDC was set up in 1997 as a state-owned non-profit organisation with an authorised capital of Rs 400 crore to provide financing schemes to aspiring disabled entrepreneurs.

There were very high hopes from this institution. Unfortunately, it took the government a very long time to even set up the channelising agencies.

It is understood that many of these channelising agencies are non-performing.

To address this issue, the NHFDC has entered into a partnership with NGOs for micro-finance scheme as a parallel mechanism. However, it has invited a lot of criticism from the disability sector because a borrower, under this scheme, could take a loan of only Rs 25,000.

The NHFDC is now tying up with commercial banks to facilitate its funding procedures.

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