By TwoCircles.net Staff Reporter,
Mumbai: The Maulana Azad Minorities Financial Development Corporation (MAMFDC) has approved Rs 45 crore to be distributed as loans for education and business among minorities.
The MAMFDC has approved 9,648 applications and a total of Rs 45 crore will be distributed among the applicants under different schemes.
According to an Inquilab daily report, Rs 2.4 crore has been allotted to education while Rs 42 crore for employments under different scheme. MAMFDC chairman Ameen Patel said that 7,390 applicants under ‘Maulana Azad Direct Loan scheme, 2,046 under ‘Unnati Term scheme, 186 under ‘Rajiv Gandhi Education Loan’ scheme and 26 under ‘Micro Finance’ scheme have been given approval.
The approvals were give in the ongoing 57th general body meeting of the corporation.
Patel also told that National Minorities Finance Development Corporation has a target to distribute Rs 40 crore for women, out of which Rs 10 crore will be allotted to MAMFDC to distribute in Maharashtra. Last year, the corporation distributed Rs 4, 50, 00,000 among women under Micro Finance Scheme.
Maulana Azad Minorities Financial Development Corporation is the Maharashtra state’s channelizing agency of Government of India’s National Minorities Development and Finance Corporation run by the Union Minority Affairs Ministry. It was constituted to meet the financial requirements and social uplift of financially backward classes amongst the minorities.
The Corporation approved a total of Rs 3, 60, 00,000 for 529 applicants in 2006-07. In 2007-08 it approved 13, 35, 00,000 rupees for 2,416 applications. And in 2008-09 MAMFDC approved Rs 28, 00, 00,000 for the total 9,632 applications.
Ameen Patel reportedly told that the Corporation has so far received 9,000 applications from across 36 districts of the state. ‘Within a few days these applications will be granted approval.’