Govt set to define role of minorities development corp

New Delhi, May 22 | Updated: May 23 2007, 09:00am hrs
The government is set to define the role of the National Minorities Development and Finance Corporation (NMDFC) and align it with the 15- point programme of the Prime Minister.

Inaugurating the one day a conference of the NMDFC's state channelising agencies in Capital on Tuesday, the secretary in the ministry of minority affairs MN Prasad the government was committed to provide higher allocations to NMDFC in order to substantially increase the coverage and fulfill the objectives of the prime minister's 15-point programme.

He also informed that the government has taken cognizance of the deficiencies of the state channelising agencies.

Accordingly a scheme has been launched for strengthening these agencies in the plan for the current financial year.

The scheme was being finalized and would be introduced very shortly, he said.

He also said that the government had formed a high level committee of the eminent bankers and financial sector experts to review the functioning of NMDFC. The committee has already submitted their report to the ministry. The ministry would soon take a decision on the panel recommendations. So far the NMDFC has provided loan assistance to about Rs 916 crore to 335,000 beneficiaries. National minorities like Muslims, Christians, Sikhs, Buddhists and Parsis are entitled to be beneficiaries.