Gets an additional financial aid of Rs 15 lakh from Union Minority Affairs Ministry
By TwoCircles.net Staff Reporter,
Kozhikode: In what could be termed as a major achievement, the Kerala State Minorities Development Finance Corporation (KSMDFC), undertaken by the State Minority Welfare Department, has got an additional financial aid of Rs 15 lakh from the Union Minority Affairs Ministry.
The grant was accorded in recognition to the efforts taken up by the Corporation for uplifting of the minority communities in the state. The Corporation, based out of Kozhikode, came into existence on March 22, 2013, and since then has been extending helping hand to students, entrepreneurs and underprivileged persons belonging to various minority communities through education, entrepreneurship and business development loans.
Haneefa Perincheeri, Corporation’s managing director, told Twocircles.net that it was for the first time the Union Government allowed such a huge amount to a state level agency. “The grant testifies how the corporation acted for the welfare of the minorities,” he said.
Since May, 2014, a sum of Rs 27 crore has been spent by the Corporation through schemes such as self-employment entrepreneurship loan, expatriates loan, microfinance, students plus, parents plus, Nitaqat loan, expatriates’ loan, visa loan and Mahila Samruddhi Yojana. Students, pursuing professional education, are provided a loan up to Rs 10 lakh for various courses extending up to five years at the interest rate of three %. Loan of Rs 20 lakh will be given to students taking up higher studies abroad at same rate of interest. Haneefa said around 400 students, belonging to various minority communities, are taking benefits of the scheme.
The selfemployment entrepreneurship loan is up to Rs 10 lakh at an interest rate of 2 to 6 %. Besides, loans are offered for smallscale enterprises, technical enterprises, and for units dealing with handicrafts, agriculture, and transport.
Through Nitaqat scheme, which aimed at the uplifting of the returnees, a total of 39 beneficiaries have been extended financial assistance of Rs 10 lakh to set up enterprise of their choice. The corporation also offers loan of Rs three lakh at five % interest rate to the job seekers in the Gulf countries to apply for a visa. Through the microfinance scheme, NGOs and Self Help Groups (SHG) are delivered loan of Rs 25,000 to start various ventures of their own. The same scheme is extended to women’s organisations under the Mahila Samruddhi Yojana.
KSM DFC chairman and former minister Cherkkalam Abdulla said that the corporation had been also conducting free short term vocational courses for young job aspirants.
“Skill development schemes seem to be better option to make our youngsters employable,” Abdulla said.
After its semiskilled development schemes have evoked a good result, the Corporation is now looking to launch schemes for high skilled development schemes like training in fire and safety, e-health management and professional accounting. A scheme, where interest-less housing loan of Rs 2.5 lakh is given to the Madrassa teachers, will be soon launched.
Abdulla said that they would use the additional grant for various welfare and charity activities.
“The recognition assumes significance in a scenario, where its counterparts in other states fail to utilise the funds sanctioned by the Centre for welfare and charity of the minority communities,” he said.