By Abdul Hameed, TwoCircles.net,
Mumbai: With Lok Sabha elections in the view, the Congress-led Maharashtra government on Tuesday came up with a slew of financial schemes including loan schemes for the minorities in the state.
In the 54th meeting of the board of directors of Maulana Azad Minorities Financial Development Corporation on December 30 in Mumbai various schemes regarding the development of minorities and providing easy loans to those affected from riots or disasters were announced.
Maulana Azad Minorities Financial Development Corporation is the Maharashtra state’s channelizing agency of Government of India’s National Minorities Development and Finance Corporation that runs under the Union Minority Affairs Ministry.
The board decided that those who want to do small business can obtain the loan of Rs 5,000-50,000 easily under ‘Maulana Azad Direct Loan Scheme.’ Earlier they needed ownership of land even for the loan of Rs 5,000. But now they can get the loan with the easy condition that a man should write for him on a stamp paper worth Rs 100 ‘I know him/her well and in the case he/she does not pay it back I will do.’
The condition that persons aged between 18-45 years could get loan has been replaced by the condition that any one above 18 from minority communities can take loan. The condition of having passed 4th class has been erased. Now there is no need of ‘School Leaving Certificate’ for getting loan.
However, the corporation has raised the lower cap of annual income for loanees.
It was decided that only those residents of urban and rural areas whose annual income is Rs 65,000 and 50,000 respectively can get loans. Earlier merely Rs 54,500 annual income for urban people and Rs 39,500 for rural people was condition for loan application under this scheme.
The ‘Maulana Azad Direct Loan Scheme’ was approved on December 4 in the presence of Chief Minister Vilasrao Deshmukh. The scheme will be effective from December 30.
The board also approved a loan of Rs 1.25 crores to be distributed among 108 applicants who were affected in Dhule riots. Amin Patel, the chairman of the corporation told on Tuesday that they would be provided with the loan within 48 hours. He also told that educational loan of Rs three crores will be given to 225 students.
Talking about the interest free loans (Rs5-10 lakh) to be given to the victims of riots and disasters, Amin Patel said: ‘The proposed scheme has been sent to the state government for approval. The loan up to Rs 5 lakhs would be given without interest under the scheme. But if one wants to get loan of Rs 10 lakh he will have to pay 3% interest. Besides, the payment of the first installment of the loan will be must only after six months and not from the first month of taking loan.
The meeting was attended by chairman of of Maulana Azad Minorities Financial Development Corporation Amin Patel, principal secretary of minority affairs Thake Kara, managing director Ghaffar Shaikh and directors Ibrahim Pathan, Munaf Hakim, Khwaja Beg and Naveduzzaman.