National Minorities Development & Finance Corporation

 

 

QUESTION 1

What are the aims and objectives of National Minorities Development and Finance Corporation?
ANSWER 
The Corporation promotes economical and developmental activities for the benefit of backward sections amongst the minorities with preference to occupational groups and women.

                                                                                                                                    
 
QUESTION 2 
Who are the promoters of the NMDFC?
ANSWER
The Government of India jointly with the State Governments of Andhra Pradesh, Bihar, Karnataka and Uttar Pradesh have promoted NMDFC.

                                                                                                                                   
 
QUESTION 3  
What are the activities of NMDFC?
ANSWER

I. Provision of finance for income generating activities at concessional rate of interest, through the State Channelising agencies.
II. Providing Micro Finance to the poorest of poor among minorities through NGOs.
III. Providing Educational Loans to persons belonging to minorities.
IV. Organisation of vocational training programmes.
V. Design development and marketing assistance to artisan and craft persons.

                                                                                                                                                                          
 
QUESTION 4 
Who comprise the target groups for NMDFC assistance?
ANSWER

Target groups for NMDFC with regard to direct benefits will be persons belonging to minority communities and living below double the poverty line. At present, minority communities as per National Minorities Commission Act, 1992 are Muslims, Sikhs, Buddhists, Christians and Parsis. Families having annual income less than Rs.40,000 in rural areas and Rs.55,000 in urban areas are categorized as below double the poverty line.

                                                                                                                                                                          
 
 
QUESTION 5 
How much is the authorised and paid-up Share Capital of NMDFC?
ANSWER

The authorized share capital of NMDFC is Rs.1000 crores with 65% (650 crores) contribution from Central Government, 26% (260 crores) contribution from various State/UT Governments and 9% (90crores) from individuals/organizations having interest in minorities.

The paid up share capital of NMDFC as on 30/06/2010 is Rs.799.46 crores with contribution of Rs.645.36 crores by Government of India and Rs.154.10 crores by State/UT Governments i.e. 99.29% and 59.29% respectively.

                                                                                                                                                                       
 
QUESTION 6 
Un-like other Apex Corporations, why States are required to contribute to the equity of NMDFC?
ANSWER Because NMDFC is the joint venture of States and Central Government.

                                                                                                                                       

 

 

Origin  l  List of Channelising Agencies l   Capital Structure l   Schemes And Programmes  l  Aims & Objectives  l  Repayment Position l  Target Groups  l  Government Guarantee  l  Board of Directors  l Achievements l  Executives  l  List of Monitors l  Channels to Reach the Target Groups  l  Right To Information Act  l  Guidelines for Implementation of Micro Financing Scheme  l  Illustrative List Of Schemes  l  Memorandam of Understanding  l Frequently Asked Questions  l Annual Report  l Success Stories  l  Reference Manual on Implementation of NMDFC Schemes   l  Home