.jpg)
NCM Chief holds meeting to discuss working of NMDFC schemes
A presentation was held at the National Commission for Minorities on 27.9.2023 regarding the schemes of National Minorities Development & Finance Corporation. The meeting was presided over by Hon’ble Chairman, NCM, Shri Iqbal Singh Lalpura. Hon'ble Vice Chairperson, Sh. Kersi Kaikhushroo Deboo and senior officials also attended the meeting.
The presentation showcased by the team of NMDFC outlined the schemes of the Corporation to provide concessional finance to the Minorities including women and artisans for self employment, income generation activities and education. NMDFC implements its schemes & programs through State Channelizing Agencies nominated by the respective State Governments & Banking Partners.
The Corporation advances loans under various schemes viz.
Term Loan Scheme, Education Loan Scheme, Micro-Finance Scheme and Virasat
Scheme. These schemes have been rolled out successfully with substantial
beneficiary coverage but not without challenges.
Some of these challenges stated were: Increase in incidents of loan default and
inefficient recovery, lack of cooperation from various States in loan recovery,
non-utilization of funds due to pre-existing schemes run by States and
unawareness of the schemes among minority groups.
Chairman, NCM appreciated NMDFC for its efforts in promoting economic &
developmental activities for the benefit of the backward sections amongst the
minorities.
In his remarks, he said, "Due to lack of awareness, people
from minorities fail in availing benefits of the already existing schemes.
Since both NCM and NMDFC are working for the same target group, we can work in
coordination where the former can raise awareness regarding these schemes and
the latter can implement them on ground.
From applying for the loans to income generation through them, it is necessary
to monitor all the stages. In order to achieve maximum beneficiary coverage, we
will write letters and hold meetings for dissemination of schemes. Together, we
will ensure that the benefits reach the maximum number of target groups."
The interactive session contributed to a better understanding of minority
credit schemes and ways to promote them.