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Virasat Loan Scheme of NMDFC

Concessional credit of up to Rs.10.00 lacs can be availed under Credit Line-1 & 2. to meet Working Capital and Fixed Capital for purchase of equipment/tools/machineries/raw material by the Minority Artisan.

Authority

Central

Region

Central Government

Status

Verified 2026

Updated

March 2026

What you get

Concessional Credit to the beneficiaries among minority communities.

Who can apply

a) The applicant must be Indian and belong to one of the six notified minority communities: Muslim, Christian, Sikh, Buddhist, Parsi, or Jain. | b) The annual family income of the applicant shall not exceed: | Rs. 3.00 lakh per annum under Credit Line–1. | Rs. 8.00 lakh per annum under Credit Line–2. | c) The applicant must be an artisan or craftsperson engaged in a traditional occupation (such as handloom, handicraft, metalwork, leatherwork, embroidery, pottery, etc.). | d) The applicant should have basic skills or certification in the relevant craft or trade, verified by a competent authority or local body. | e) The loan shall be used for procurement of tools, equipment, raw materials, or working capital to enhance production and market linkage. | f) Preference shall be given to women artisans and occupational clusters in minority-dominated areas. | g) The applicant should not be a beneficiary of any other similar artisan financing scheme at the time of application. | h) The beneficiary must possess a valid Aadhaar-linked bank account and minority certificate.

Required Paperwork

  • Aadhaar Card
  • PAN Card
  • Income Certificate
  • Residence Proof (Domicile)

Common Questions

What is the Virasat Scheme, and who can apply for it?

The Virasat Scheme supports artisans and craftspersons from minority communities by providing credit for working capital and fixed capital requirements, such as purchasing tools, machinery, and raw materials.

What is the maximum loan amount and interest rate under this scheme?

Under both Credit Lines, artisans can avail up to Rs. 10.00 lakh. | Under Credit Line–1, interest rates are 5% for male beneficiaries and 4% for female beneficiaries. | Under Credit Line–2, interest rates are 6% for male beneficiaries and 5% for female beneficiaries.

What is the repayment period and moratorium?

A six-month moratorium is allowed, followed by repayment over a period of five years.

What documents or proof of skill are required to apply?

Applicants must provide proof of artisan status, such as an Artisan ID Card issued by the Development Commissioner (Handicrafts/Handlooms), certificate from local craft societies, or evidence of traditional occupation.