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Under section 25 of the Companies Act, 1956, the Ministry of Finance incorporated the National Skill Development Corporation on 31 July 2008. This is a not-for-profit public limited company that promotes skill development by establishing several quality vocational institutions.
Further, this organisation funds a number of training programmes carried out in these vocational institutions. As per FY 2019-2020, around 20.45 lakh youths have been trained across 10,373 training centres.
In this regard, one ought to know everything about the functions of NSDC, courses available, vital elements of funded affiliation and schemes.
This organisation assists in skill development by offering funds to enterprises and companies that provide skill training. Also, to support private sector initiatives, it develops appropriate models.
In this aspect, take a look at some of the functions of this organisation -
Plus, the organisation deals with several skill sectors that offer NSDC certificates upon completion of courses. Here is a glimpse of those courses.
Given below is an outline of the skill sectors available under several NSDC schemes that offer skill development courses -
Therefore, by referring to the aforementioned NSDC courses list, one can get quality training that will help them to seek several employment opportunities.
Apart from this, potential candidates can choose from several NSDC online courses like Domestic Data Entry Operator- English, Computer Hardware Repairing, Computer Basics etc.
Besides skill development, individuals might prefer these courses because they are easily accessible online and come at reasonable rates. NSDC courses fees are much lower compared to any other regular courses.
Now that you know what NSDC is, you might want to know about National Skill Development Corporation funding.
To understand NSDC funding affiliation and its crucial elements, you might want to refer to the following table -
|
Parameters |
Funding Guideline |
|
Eligibility |
Legal entities, including company, society, trust. However, it is not limited to these entities only as per the applicable laws and processes. |
|
Fundings available for |
Training infrastructure (except acquisition or creation of immovables), Working capital |
|
Rate of interest |
6% p.a. |
|
Moratorium period for principal |
Up to 3 years |
|
Interest moratorium period |
NA |
|
Repayment duration |
7 years including moratorium |
|
Contribution of promoters |
15% of investment requirement (minimum) for not-for-profit entities, 25% of investment requirement (minimum) for for-profit entities |
|
Training commitment |
Standard proposals: 20,000 persons for more than 7 years, Corporates (listed in NSE/BSE for over 3 years with a credit rating of A or more or foundations/ventures of such organisations): 5000 persons per centre for more than 7 years, Engineering colleges, private universities, polytechnics, ITI: 5000 candidates for over 7 years |
|
Placement guarantee commitment |
Minimum 70% |
|
Collateral |
First charge on (Project assets, Cash flow of the project, IP developed under the project ), Personal or corporate guarantee or put-option on other associate companies, Pledged shares: Minimum 51% of the project implementing entity’s equity, Hard collateral covering at least 30% of the loan amount, Pledge letters (not-for-profit entities), Post-dated cheques |
Once you opt for NSDC registration, you can apply for several schemes as per your eligibility and requirement. Such schemes and initiatives are as follows -
Therefore, now that you know everything about NSDC, its courses, schemes, and initiatives, you can seamlessly opt for the registration process.
You can opt for the NSDC registration process as a partner or a training provider.
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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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