Minority Benefits

SR No.: 034376
Original Sutra Author: N/A
Author: Babita Jain
Publisher: Shrut Samvardhan Samsthan
Publication Year: 2017
Total Pages: 250
Language: English
Classification: Book_English
File Size: 13 MB

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(i) Anjuman-i-Islam, Mumbai (Maharashtra) (ii) Murthuzaviya Educational & Cultural Foundation of South India, Chennai
(Tamil Nadu) and (iii) Amanat Foundation Trust, Kolkata (West Bengal) The Foundation is also running a Vocational Training Centre for Women at Ajmeri Gate, Delhi where approximately 250 girls are getting free training in the trades of Cutting & Tailoring, Textile Designing, Beauty Culture, Arts & Crafts and
Computers. (ii) National Minorities Development and Finance Corporation :
National Minorities Development & Finance Corporation (NMDFC) was set up in 1994, with an objective to promote economic and developmental activities for backward sections among minorities. To achieve this objective, the NMDFC is providing concessional finance for self-employment activities to eligible beneficiaries belonging to minority communities having family income below double the poverty line.
In December 2004, the authorized share capital of the Corporation has been enhanced from Rs.500 crores to Rs.650 crores. Out of this, the share of Govt. of India is Rs.422.50 crores (65%) and that of State Govts./UTs is Rs.169 crores (26%) while the remaining Rs.58.50 crores (9%) is to be contributed by individuals/institutions having interest in welfare of minorities and financial institutions. Paid up capital of the Corporation is 363.67 crores. Of this, Govt. of India have contributed RS.299.42 crores and various State GovernmentsJUTs have contributed Rs.64 25 crore.
The NMDFC has two channels to reach the ultimate beneficiaries: (i) through the State Channelising Agencies (SCAs) nominated by the respective Stale Govts. IUTs and the other (ii) through Non Governmental Organisations (NGOs). Under the SCA programme, projects costing upto Rs 5,00 lakhs to the individual beneficiaries are financed. Funds for this purpose are made available to the SCAs at interest rate of 3% lor further loaning to the beneficiaries at 6%. The Corporation is also implementing the scheme of vocational training through the SCAs lor capacity building 01 the target groups for self.-employment as well as wage employment.
Under the NGO programme, a micro credit upto Rs.25.000 is given to minority members of the Self-Help Groups (SHGs) through the NGOs. Funds for this purpose are made available to NGOs at 1% lor further loaning at an interest rale of 5% per annum. In addition to loaning activity, the NMDFC assists the target group in training for skill upUnder gradation and also provides marketing assistance. Under the NGOs programme, there is also a provision ot Interest Free Loan (IFL) for promotion and stabilization of SHGs.
The NMDFC has launched the Educational Loan Scheme through the State Channelising Agencies, which has come in to operation from the last financial year Under this scheme. the NMDFC provides loan of Rs. 2,50.000 to the eligible candidates
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