Government to enhance income eligibility criteria to avail concessional loan by minorities

Updated on: Saturday, May 18, 2013

Government is considering enhancement of income eligibility criteria for availing concessional loan by minorities living below double the poverty line to ensure a larger outreach.

At present, the families with an annual income of less than Rs 40,000 per year in rural areas and Rs 55,000 per year in urban areas are categorised as below double the poverty line.

The quantum of loan amount that can be availed by beneficiaries has also been increased two fold, a statement from the Minorities Affairs Ministry said here.

The ministry is implementing the scheme through National Minorities Development and Finance Corporation (NMDFC).

The lending schemes of NMDFC include term loan scheme, margin money loan scheme, educational loan scheme, micro financing scheme, interest free loan scheme and Mahila Samridhi Yojana.

The annual review of State Channelising Agencies (SCAs) by NMDFC is being held in Chennai tomorrow.

The meeting will discuss the take-aways of the last financial year and will work out the strategy for the current year to be adopted by the agencies in order to deliver their services effectively and efficiently.

At present, the NMDFC has 36 operational SCAs in 27 states and UTs. 4 states have set up exclusive Minority Development and Finance Corporations.

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