The members of backward classes (as notified by the Govt. from time to time) living below double the poverty line will be eligible for the program. The income & caste certificates issued by the competent authority of the State governments will be considered.
NBCFDC will assist the trained members of backward classes to get loans at very low interest rates, in order to provide initial capital to help them start their business. E-Cell-Incubation Centre will track the progress of the program and will enhance it to make it better and more scalable. As part of phase one rollout, the program will first begin in Rohtak and nearby regions, and will subsequently be expanded further. NBCFDC will also help to promote research projects at IIM Rohtak. Moreover, it will assist the latter in fostering the entrepreneurship culture by assisting it in conducting several workshops and conferences.
The agreement has been chalked out at a right time, thanks to the wave of Startup India initiative. But as a point of differentiation, its focus is to tap the much-needed potential of underprivileged and ignored sector of poor backward masses. The two bodies are optimistic to bring about a gradual change in the standard of living of these people and have been portraying leadership through their action for the social cause.
For more information on the intiatives taken by E-Cell, IIM Rohtak, please visit here.
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