National Skill Development Corporation India (NSDC), the fledgling organisation in public private partnership, with the mandate of making 150 million youth employable by 2022, is working on rolling out innovative loan products with banks and other financial institutes for skilling or skilling upgradation programmes.

NSDC, instituted in end-2009 at the intiative of the finance ministry and which aims to promote skill development by catalysing creation of large, quality, for-profit vocational institutions, has already started trying this out with microfinance institute — Basix.

“We are trying this out with Basix on an informal basis. But we are very serious about working out some loan products for skilling programmes. We are in talks with banks and other financial institutes on this,” Dilip Chenoy, CEO and MD, NSDC, told Financial Chronicle.

NSDC which gets its funds from a trust called National Skill Development Fund (NSDF), is in talks with World Bank for more funds to carry out its various ambitious programmes.

NSDC has recently entered into joint ventures with Centum Learning, an associate company of the Bharti Group, to train 11.57 million youth in different trades and with an arm of IL&FS for carrying out skill development. “We are working on three-four more such joint ventures. Hopefully we will firm up atleast 2/3 JVs by December. We will set up a chain of training centres for skill upgradation across the country through these joint ventures,” he said.