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How DICs Empower India's Rural Entrepreneurs Since 1978

blog-image
Mar 21, 2024
15 Mins

District Industries Centers (DICs) are integral to the Ministry of Social Justice and Empowerment's initiatives to aid young professionals in India. Established in 1978, DICs are designed to bolster small-scale industries in smaller towns and rural areas by offering essential support services and facilities.

The central goal of DICs is to create employment opportunities in rural areas. These centers function at the district level, supporting first-time entrepreneurs and business owners interested in starting their own MSMEs. Besides, DICs play a part in the registration and development of industrial cooperatives.

DICs provide a subsidy loan scheme to a range of eligible groups, including individuals from scheduled castes, safai karamcharis families, other backward classes, and physically disabled young professionals like engineers, doctors, and chartered accountants.

Collaborating with various government corporations, DICs facilitate business loans. For example, the National Scheduled Castes Finance & Development Corporation (NSCFDC) offers term loans for projects or units up to Rs. 50 lakh. Likewise, the National Safai Karamcharis Finance & Development Corporation (NSKFDC) extends loans at reduced interest rates for qualified candidates. Loans are also available through the National Backward Caste Finance & Development Corporation (NBCFDC) and the National Physically Challenged Finance & Development Corporation (NPCFDC) for specific categories.

Beyond loan provisions, DICs perform numerous functions and activities. They organize credit facilities, supply machinery and equipment for entrepreneurs, aid in the development and expansion of industrial clusters, and offer financial backing to small units.

DICs initiate surveys, training programs, and motivational campaigns to promote entrepreneurship and skill development. They provide project profiles, marketing assistance, raw materials, and are involved in the registration and rehabilitation of handicrafts, cottage industries, and distressed SSI units.

In essence, DICs act as a vital platform for budding entrepreneurs and business owners, equipping them with essential resources and support to establish and expand their businesses.

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Invest Smarter, Here's how to achieve Your Dreams 80% Faster - Let’s Get Started!Trusted by 3 Crore+ Indians
Dream Home
Dream Wedding
Dream Car
Retirement
1st Crore
credit-cards

How DICs Empower India's Rural Entrepreneurs Since 1978

blog-image
Mar 21, 2024
15 Mins

District Industries Centers (DICs) are integral to the Ministry of Social Justice and Empowerment's initiatives to aid young professionals in India. Established in 1978, DICs are designed to bolster small-scale industries in smaller towns and rural areas by offering essential support services and facilities.

The central goal of DICs is to create employment opportunities in rural areas. These centers function at the district level, supporting first-time entrepreneurs and business owners interested in starting their own MSMEs. Besides, DICs play a part in the registration and development of industrial cooperatives.

DICs provide a subsidy loan scheme to a range of eligible groups, including individuals from scheduled castes, safai karamcharis families, other backward classes, and physically disabled young professionals like engineers, doctors, and chartered accountants.

Collaborating with various government corporations, DICs facilitate business loans. For example, the National Scheduled Castes Finance & Development Corporation (NSCFDC) offers term loans for projects or units up to Rs. 50 lakh. Likewise, the National Safai Karamcharis Finance & Development Corporation (NSKFDC) extends loans at reduced interest rates for qualified candidates. Loans are also available through the National Backward Caste Finance & Development Corporation (NBCFDC) and the National Physically Challenged Finance & Development Corporation (NPCFDC) for specific categories.

Beyond loan provisions, DICs perform numerous functions and activities. They organize credit facilities, supply machinery and equipment for entrepreneurs, aid in the development and expansion of industrial clusters, and offer financial backing to small units.

DICs initiate surveys, training programs, and motivational campaigns to promote entrepreneurship and skill development. They provide project profiles, marketing assistance, raw materials, and are involved in the registration and rehabilitation of handicrafts, cottage industries, and distressed SSI units.

In essence, DICs act as a vital platform for budding entrepreneurs and business owners, equipping them with essential resources and support to establish and expand their businesses.

Available on both IOS and AndroidTry Pluto Money Today 👇
Author
Team Pluto
Have a question?
Digital GoldInvest in 24K Gold with Zero making ChargesLearn More
Digital SilverInvest in silver with Zero making ChargesLearn More
Pluto FixedEarn from 11% to 14% Returns annually in a fixed lock-in periodLearn More