Loans for members of minority communities

Discussion in 'Politics & Society' started by sasi, Nov 25, 2014.

  1. sasi

    sasi Senior Member Senior Member

    Nov 18, 2012
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    The newly founded Kerala State Minorities Development Finance Corporation (KSMDFC), as part of its first phase of operations, is offering loans to qualified individuals who belong to Christian, Muslim, Sikh, Parsi, Buddhist, and Jain communities.
    KSMDFC chairman Cherkalam Abdullah told reporters here on Thursday that the loans were being offered under various projects of the corporation such as self-employment entrepreneurship loan, expatriates loan, mirco-finance, and Mahila Samruddhi Yojana to individuals in the age group of 18 to 55.
    The self-employment entrepreneurship loan is up to Rs.10 lakh at an interest rate of 2 to 6 per cent and beneficiaries get 60 to 72 months to repay it. The corporation offers loans for small-scale enterprises, technical enterprises, and for units dealing with handicrafts, agriculture, and transport.
    The scheme for expatriates is aimed at returnees from the Gulf countries as a result of Nitaqat. They will be provided vocational training and loans up to Rs.10 lakh at 3 per cent interest to set up enterprise. Those who would like to return to the Gulf may apply for a visa loan of up to Rs.3 lakh at 5 per cent interest that may be repaid in six yearsMicro-finance
    The micro-finance scheme is for NGOs or community development schemes. A member of the said communities, who belongs to a recognised Self-Help Group (SHG), may get a loan of Rs.25,000. The repayment may be made in 36 months. The same scheme is available for women’s organisations and SHGs under the Mahila Samruddhi Yojana. Haneefa Perincheeri, managing director, said the KSMDFC also offered free short-term vocational courses twice a year for youngsters who wished to set up a self-employment unit.

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