Tamilnadu Backward Classes Economic Development Corporation
Tamilnadu Backward Classes Economic Development Corporation – TABCEDCO – provides financial aid at lower interest rates to groups of individuals belonging to Backward Classes, the Most Backward Classes and denotified communities to establish viable businesses or trades for their upliftment. It was founded in 1982. The company is registered as a State-owned Company under the Companies Act, 1956.
It has a share capital authorized of Rs. The corporation has a share capital authorized of Rs. The Corporation has served as the designated channelizing agent of the National Backward Classes Finance and Development Corporation and obtained loans from it upon the guarantee given by the Tamilnadu Government to fund various loan schemes.
ELIGIBILITY CRITERIA
- The beneficiary should be in one of the Backward classes, the Most Backward Classes and the Denotified communities as listed on either a state or central list.
- The annual family income should not be more than Rs. 3,00,000.
- The beneficiary should not be older than 18 and no more than 60.
- Only one member of a family will receive loan assistance.
MODE of APPLICATION
The following offices offer free loan application forms:
- TABCEDCO Head Office in Chennai
- District Backward Classes & Minorities Welfare officers / Regional Managers of TABCEDCO
- O/o Joint Regional Registrar of Co-operative Societies
- All District Central Co-operative Banks / Urban Co-operative Banks / Primary Agricultural Co-operative Credit Societies
- TABCEDCO website: tabcedco.tn.gov.in
TO PRODUCE DOCUMENTS
The applicant should complete their loan application and send it along with a copy of all the required documents to: the District Backward Class and Minority Welfare Officer & the Regional Manager of TABCEDCO / the Office of the Joint Registrar of Co-operative Societies / District Central Co-operative Banks / Urban Co-operative Banks / Primary Agricultural Co-operative Credit Societies, and for Milch Animal Loan – the Tamil Nadu Co-operative Milk Producers Union operating in the Districts
- Community Income, Nativity and Certificates.
- Quote from an industry leader
- Project Report by a Leading Company This is only for large projects.
- Ration card.
- Driver’s license required for transport vehicles only
- The Bank will require you to provide the necessary documents for mortgages and hypothecations.
- Aadhar Card and Mobile No.
METHOD FOR LOAN SANCTION
These institutions have been authorized by this company to sub-channelize the loan disbursement process and recoveries.
- District Central Co-operative Banks / Urban Co-operative Bank / Primary Agricultural Co-operative Credit Societies.
- Tamil Nadu Co-operative Milk Producers Federation Ltd.
- Tamil Nadu Co-operative Milk Producers Union.
Co-operative Banks will be responsible for processing loan requests. The District Screening Committee, headed by the Joint Registrar of Co-operative Societies, will review the loan applications and recommend the sanction of a loan after ensuring that the scheme is viable, eligible and repayment capacity of the applicants.
WebLink
MEMBERS of the District Screening Committee
- Chairman of the Joint Registry of Co-operative Societies
- District Backward Classes and Minorities Welfare Office (Convenor)
- General Manager, District Industries Central (Member)
- Member of the District Central Co-operative Bank Special Officer
- Tamil Nadu Corporation for Development of Women Project Officer (Member).
- Rep. of the concerned Co-operative Banks
- Member of Self Help Groups
REPAYMENT OF LOAN
All schemes will begin repayment after a 3 month moratorium. According to the sanction order, the loan amount is to be paid back monthly or quarterly by the borrower.