The Ministry of Social Justice and Empowerment has highlighted the success story of Hemlata Kharatmal from Thane, Maharashtra, who rebuilt her family’s finances after becoming a widow. She received a loan under the NSFDC Term Loan Scheme, a government credit programme for economically disadvantaged groups, and used it to start a fish-selling business. Her case is being presented as an example of how institutional lending can enable families facing hardship to achieve economic self-reliance.
The Loan and the Business
On 25 November 2024, Kharatmal received financial assistance of Rs. 3.75 lakh through the NSFDC Term Loan Scheme. She applied for this loan after learning about the scheme from a local social worker and approaching the LIDCOM office, which processes such applications.
Using this amount, she established a fish-selling business on Pokhran Road in Thane. Within a period of sustained effort, the business became her household’s primary income source. Her net monthly earnings now range between Rs. 40,000 and Rs. 50,000, which allows her to cover family expenses, fund her two children’s education, and improve her household’s living standards.
What This Means for You
If you are from an economically weaker background or belong to a scheduled caste or scheduled tribe community, the NSFDC Term Loan Scheme may offer you access to affordable credit to start or expand a small business. The scheme requires that you identify a viable business opportunity, gather necessary documentation, and apply through the designated LIDCOM office in your state. Success, as Kharatmal’s example shows, depends on combining the loan with your own hard work and business discipline. The government’s intention with such schemes is to create pathways out of poverty by removing the barrier of upfront capital that many entrepreneurs face.