National Skill Development Corporation (NSDC) - Everything Explained
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.
What Is National Skill Development Corporation (NSDC)?
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 -
- It establishes high-quality business opportunities at minimum costs.
- Interested parties seeking high-quality NSDC training can get substantial support from this organisation.
- Apart from providing funding support, NSDC offers support through partnerships.
- It also promotes the growth and enhancement of several private sector initiatives.
- Companies promoting skill India courses get funding from this public limited company.
Plus, the organisation deals with several skill sectors that offer NSDC certificates upon completion of courses. Here is a glimpse of those courses.
NSDC Courses Available in India
Given below is an outline of the skill sectors available under several NSDC schemes that offer skill development courses -
- Apparel Made-Ups & Home Furnishing Sector Skill Council
- Capital Goods Skill Council
- Domestic Workers Sector Skill Council
- Food Industry Capacity & Skill Initiative
- Gem & Jewellery Skill Council of India
- Healthcare Sector Skill Council
- Indian Plumbing Skills council
- IT-ITeS Sector Skill Council
- Logistics Sector Skill Council
- Media & Entertainment Skill Council
- Skill Council for the Mining Sector and more.
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.
How to Get an NSDC Affiliation?
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 |
Further, this organisation offers a range of skill development schemes.
National Skill Development Schemes in India
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 -
- Pradhan Mantri Kaushal Vikas Yojana (PMKVY): Implemented by NSDC, this is a government initiative under the Minister of Skill Development and Entrepreneurship (MSDE). Under this scheme, Indian youths can undertake skill training related to industries that will open them to secure a job and earn a living.
- Pradhan Mantri Kaushal Kendra: This scheme promotes vocational training to develop skills among Indian youths. Under this initiative, the MSDE plans to develop Model Training Centres (MTCs) across cities and districts.
- India International Skill Centre (IISC) Network: This network is a nodal platform that facilitates international workforce mobility opportunities for Indians. Within this network, there will be Member Organisations functioning through several fixed centres. These organisations will be referred to as IISC.
- Technical Training Intern Program (TITP): TITP was initiated in 2017 after signing a memorandum of corporation between the Welfare of Japan, the GOI, MSDE, Ministry of Foreign Affairs and Ministry of Health. Under this program, NSDC empanels several organisations and sends skilled youths to Japan for technical internships and learning.
- Skill Impact Bond: This Impact Bond for Skilling has supported over 50,000 young people in India for more than 4 years. Among them, 60% will be women and girls, who will be trained for skills that will help them secure wage employment in several COVID-19 recovery sectors.
- Seekho Aur Kamao: This scheme was implemented for the Union Territories of Jammu and Kashmir, and Ladakh. It mainly focuses on the skill development of minorities belonging to these locations.
- SWADES: Through the Vande Bharat Mission, the GOI is performing skill mapping of overseas returning citizens. In this regard, they need to fill up the SWADES skill card for exposure to several Indian and Foreign companies.
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.
Frequently Asked Questions
Can I secure a loan from NSDC?
If you run a professional training institute, you are eligible to obtain fund support from this organisation through loans.
Who can become NSDC partners?
Entrepreneurs, partnerships, non-funded partnerships and training institutes can become National Skill Development Corporation partners.