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NSDC – Full Form, Courses, Schemes, Certificate, Eligibility

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National Skills Development Corporation - NSDC

NSDC: The Promise of a Skilled India

As India advances with rapid strides to a shining future, its principal investment must be made in its demographic dividend. The fact that the youth constitute the lion’s share of India’s population is of capital importance. Thus, every initiative aimed at the holistic development of the youth and the enhancement of their skills is bound to be praiseworthy and beneficial to the growing needs of a growing economy like ours. The launch of the National Skill Development Corporation or NSDC as it is popularly called caters to this objective.

National Skills Development Corporation (NSDC) has been set up under section 25 of the Companies Act, 1956. It was established in 2008 and has been listed as a public limited company which has a not-for-profit objective to fulfil. Established by the Ministry of Finance under the “Public-Private Partnership” model, the NSDC attempts to empower the youth through the enhancement of their skills throughout the country. The funds that are disbursed to entities and organizations under the NSDC scheme help in the meeting of their working capital needs for all activities substantially related to the development of skills. These funds cannot be deployed for increasing capital through or her means such as the buying and construction of movable and immovable property such as land and machinery.

The funds that are disbursed to entities and organizations under the NSDC scheme help in the meeting of their working capital needs for all activities substantially related to the development of skills. These funds cannot be deployed for increasing capital through or her means such as the buying and construction of movable and immovable property such as land and machinery.

Functions of NSDC

NSDC assists in the provision of funds to set up profitable training centers and vocational centers to interested entities for making such opportunities available to the youth

  • It helps in the establishment of high-quality business opportunities with minimum cost
  • It provides an ecosystem of support that guarantees to impart high-quality training and assurance coupled with smoothening of information about such activities to all interested parties.
  • With regard to the existing training academies, NSDC guarantees not only funding support but also support through partnerships.
  • In performing its functions, NSDC provides support, enhancement, and growth of various private sector initiatives.
  • In providing funds to the companies and organizations that promote or take part in skill development training and workshops.

Highlighted Features of NSDC

  • NSDC has 462 training partners
  • There are 11,000 training centers associated with NSDC
  • NSDC has 2100 job roles
  • The core team of trained people is of 12 people
  • NSDC has a record of placing 68 lakh professionals.

Courses under NSDC

An accompanying initiative that was launched alongside the NSDC was the ‘Skill India Mission.’ The plan has an ambitious objective to provide holistic training to over 40 crore youth by the year 2022. These courses are meant to be vocational in scope and will also lead to the earning of certificates by the concerned individuals. This is expected to stand them in good stead in their professional journey and improve their chances of earning a better livelihood. The programs offered under this initiative can be executed through a wide range of courses under various training bodies. These range from the already existing Industrial Training Institutes (ITI) to various NSDC fee-based courses, including NAPS (Apprenticeship Scheme), Pradhan Mantri Kaushal Vilas Yojana, Deen Dayal Upadhyay Grameen Kaushal Vikas Yojana, Technical Intern Training Program (TITP), Jan Shikshan Sansthan, etc.

NSDC funding and its preliminary information

Any funding that is provided under the NSDC scheme usually carries a rate of interest of around 6% per annum.  It can be availed by any entity other than a limited one. They usually have a repayment period of 7 years, including the period of the moratorium, which is set at 3 years. The promoter’s contribution is fixed at 15% of the investment requirement for not-for-profit entities and 25% of the investment requiredfor for-profit enterprises. The entities thus involved must provide a placement guarantee commitment of 70%.

Here we can see a detailed chart based on the features for more information on NSDC Funded Affiliation:

Framework

Funding criterion

Eligibility

Any legal entity but not limited

Loan purpose availability

Training infrastructures (excluding procuring or creating immovables), training aids, working capital.

Interest Rate

6% per annum

Repayment Period

7 years (including Moratorium period)

Principal Moratorium Period

Up to 3 years

Interest Moratorium Period

Nil

Placement Guaranteed percentage

70%

Promoter’s Contribution

      For non-profit entities: minimum 15% of the investment requirement

      For-profit entities: minimum 25% of the investment requirement

Collateral

      First charges on assets, cash flows and IP developed under the project

      Personal/corporate guarantees and Post-Dated cheques

      Hard collateral that covers a minimum of 30% of the loan.

Using key projects as examples of NSDC working

To give one a fairer understanding of this Mission, one could take a detailed look at three major programs launched under it. These include the

Website – https://nsdcindia.org/

  • Pradhan Mantri Kaushal Vilas Yojana (PMKVY)
  • Udaan
  • TITP.

PMKVY or the Pradhan Mantri Kaushal Vilas Yojana is a program for imparting vocational training and skills to the youth. This project is expected to make the youth industry-ready so that the chances for their employment increase manifold, and so do their opportunities for earning better incomes.

Recognition of Prior Learning (RPL): Short-term training programs with the added objective of facilitating learners’ placement are its immediate and major objectives. Along with these, programs are designed to enable the meticulous monitoring of progress and the organization of Rozgar Melas (job fairs), etc. Another program that focuses exclusively on vocational training is the Pradhan Mantri Kaushal Kendra Yojana (PMKKY)under which the Ministry of Skill Development and Entrepreneurship (MSDE) is expected to set up Model Training Centers in every state and in every district of the country.

  • Key components:
    • Short term trainings
    • Recognition of prior learning (RPL)
    • Special projects
    • Kaushal and Rozgar Mela
    • Placement assistance
    • Monitoring
    • Standardized communication and branding.

Udaan is a project that has been begun by the Ministry of Housing under the NSDC. IT is, however, limited to the state of Jammu and Kashmir. As a Special Industry Initiative (SII), it targets the educated and unemployed youth of J&K to enhance their skills for enabling them to be employed. It also manages travel trips for youth to expose them to practical conditions in relation to the industry. Focusingprimarily on the graduates, postgraduates, and 3-year diploma engineers, Udaan attempts to fulfil the requirements of nearly 40,000 youth from the state.

Technical Intern Training Program or TITP is a joint venture launched through the signing of a memorandum between Welfare of Japan, MSDE, Ministry of Health, and Ministry of Foreign Affairs.

It is a program that focuses on Skill Development and the NSDC, as the chief nodal agency for implementation and monitoring has played a woman’s role in sending skilled youth to Japan for the purpose of gaining training and doing internships. With over 400 NSDC training partners and over 11000 centers, NSDC boasts of having trained 12 crore people, 68 lakh professionals who have been placed in the recent past. The path to future development lies in the potent hands of an organization such as this.

Due efforts, it is hoped, will lead to much better results, and the future of employment in the country is sure to be brighter than ever before.

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NSDC FAQs:

1. How will our organization benefit from NSDC?

An organization can directly avail loans from NSDC if it essays to cater to the area of training and skill enhancement of personnel and youth. An application made will undergo consideration, and the terms and conditions of loan disbursement will be made known subsequently.

2. Can an organization be a Non-Funding Partner?

An organization can be a Non-Funding Partner provided the concerned business entity has existed for more than 5 years with a decent track record of growth.

3. Who can be NSDC partners?

Entrepreneurs, training institutes, partnerships, and non-funded partnerships are eligible to be NSDC partners.

4. What are SSCs?

SSCs stand for sector skill councils which are responsible for looking after the skilling needs, development, concept, process, certification and accreditation. These are basically industry-led bodies and are limited to function under their respective industries.

5. What is SMART?

SMART stands for Skill Management and Accreditation of Training Centers. This particularly is an initiative taken by the Information Technology (IT) that is meant to create synergies among stakeholders of the Skill Ecosystem and streamline the initiatives taken for skill development.

6. Do training providers need to pay any fees for getting accreditation on SMART?

Yes, the trainers need to register and go through a verification process in which the trainer will need to pay a one-time registration fee of Rs. 10,000. The payment method as of now is only via online payments.

7. How to apply for accreditation?

It’s a small and simple process but one needs to be extra careful and avoid mistakes at any level. Here’s the steps to follow while applying for accreditation: ○ The Centre Accreditation Application Form or CAAF is provided wherein the training centers need to fill out their necessary information like the details of the infrastructure, tools and equipment, jobs and roles. It is recommended to check and go over the static format for CAAF which is downloadable before filling out the application form for all the details and necessary information on the required documents for an errorless process. ○ The next step requires the uploading of supporting evidence like time-stamped or get tagged data and photos of the machinery, tools and all the equipment used in the training center. ○ The last and the final step is making the annual accreditation fee.

8. Can any training center apply for accreditation?

To apply for accreditation, one needs to keep in mind that the actual purpose is served. However, for a training center to be able to apply, the training provider first needs to be registered without which the center won’t be able to apply for accreditation.

9. Are the training centres inspected?

Yes! Training centres are inspected at regular intervals to make sure the order is maintained and then are reported. There are inspection agencies which maintain the work and have their own scheduled timings for each and every inspection.

10. What is the role of MSDE?

The Ministry of Skill Development and Entrepreneurship or MSDE is the one responsible for maintaining and looking over all the skill enhancement and development effects all over the country. Primarily formed to look over the enhancement of employability of the youth through skill development, the ministry aims to Skill on a large scale with speed without compromising on any quality to achieve its vision of a “Skilled India”. Additionally, it also resolves the issue of heavy demand and less skilled manpower and helps in building new skills, upgrading previous abilities, innovative thinking keeping in mind the present-day needs and the future that is waiting for us.


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