Gang-Jong Development Finance Pvt Ltd (GDF) is a Non-Banking Financial Company (NBFC) as defined by the Reserve Bank of India. GDF has been established to provide financial and non-financial services to the target customers.

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of:-

• loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority
• Other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business.
• It does not include any institution whose principal business is that of agriculture activity,            industrial activity, purchase or sale of any goods (other than securities) and are providing any services and sale/purchase/construction of immovable property.

A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company).

No.  GDF is a Non-Deposit taking NBFC (ND-NBFC) and can’t accept deposit from general public.

Yes. Gang-jong was incorporated on 27th November 2017 as an unlisted company and registered with Registrar of Companies in the state of Himachal Pradesh (HP). The registered office of the company is in the Central Tibet Relief Committee, Gangchen Kyishong, Dharamshala, Kangra, HP 176215 India.

The three initial members of the Board of Directors are Mr. Karma Yeshi,Chairman, Mr. Alok Prasad and Mr. Kunchok Tsundue , appointed on 27 November 2017.

Vision:

Create a prosperous and resilient community especially Tibetans in exile capable of sustaining its unique socio-economic and public institutions through inclusive financial services for all its customers and enterprises that help develop various productive assets which pave the way for self-reliance and self-esteem flowing from not having to depend only on external assistance.

  Mission:

• Become NBFC (SI) within four years from the date of operation
• Mobilize internal low-cost Capitals by developing unique instruments for a robust foundation
• Provide financial services of all kinds for individuals, public, private and collective businesses to flourish
• Provide affordable capital for individuals especially young entrepreneurs, livelihood, activities, MSME etc..
• Provide consulting, training and TA support services to the constituent clients, with reference to CTA institutions
• Develop all kinds of products and portfolios cater to markets and its demands
• Provide personal financial services which include professional skills development which enhances the quality of lives across the communities
• Enhance the creditworthiness of the community and enterprises to become a part of national and global  international markets

GDF offers Summer Loan only but will soon start with appropriate loan products like

1) Commercial Vehicle Loan

2) Trinket Sellers Loan

3) Caravan Owner Loan

4) Winter Sweater Sellers Loan

• Gang-jong will announce loans through its website, the Settlement Offices of CTA and other Medias.
• The eligible purposes, the eligibility criteria will also be announced simultaneously.
• The eligible Tibetan entrepreneurs and businesses need to obtain Loan Application from the Settlement Officer and submit the same with the required documents before the due date.
• GDF respects the privacy of the applicants, hence the information provided by the applicants will be used only for the loan appraisal purpose.

• Attested copy of Green Book   
•  Attested copy of RC  
• Loan application form
•  The applicant’s name must appear in the market list provided by the market leader.

1. Garments
2. Hospitality
3. Restaurant
4. Cottage Industries
5. Commercial Vehicles
6. Trinkets/Jewellery
7. Tours and Travels
8. Agriculture

• Currently loans are being offered on softer terms, much below the competitive market rates due to the developmental objectives of SARD and the Donors, the interest rates. The current loan terms are:
  

  S.No	Products	Loan Amount	Interest Rate	Tenure	Penalty for late payment
  1	Summer Loan	2  Lakhs	6% P.a	6 Months	12% P.a

As the objective of GDF is to improve the financial sustainability of Tibetan small entrepreneurs and businesses, loans are being provided now to improve the businesses/enterprises, providing of housing loans and personal loans is not being considered at present.

The loan amount will be disbursed by the first week of the month selected by the loan applicants in the loan application form.

No.  Loan will be disbursed directly into the bank account of the borrower mentioned in the loan application form. The borrower will be informed of the disbursement and he/she just need to check the bank account either from ATM or from bank itself after one day from the date of disbursement.

As soon as you have received the loan amount in your bank account you can proceed on to sign loan receipt/promissory note at your Settlement Office. Further, it may please be noted that signed receipts are to be submitted to the respective settlement office and not to send individually to GDF.

Yes. However,if paid within 3 months,minimum interest for 3 months to be paid; if paid beyond 3 months, minimum 6 months interest to be paid

The details of the bank account to which repayments are to be made will be informed to each borrower at the time of disbursement. Borrowers are requested to make sure that repayments are made into the correct bank account, if necessary, by calling the project officer/ settlement officer.