The Government has said that the National Minorities Development and Finance Corporation ( NMDFC ) has prescribed its lending policy to be followed by its implementing agencies viz. State Channelising Agencies as well as Non-Governmental Organizations for proper implementation of its schemes. Giving this information in the Rajya Sabha today Shri Salman Khurshid, Minister of Minority Affairs, said that these guidelines are meant to ensure simplification of formalities and charging concessional rate of interest from the beneficiaries. The formalities & loan documentation requirements are similar to other social lending programmes.
Shri Khurshid informed the House that during the last three years and the current financial year the allocations provided to NMDFC by the Government of India are as given below.:
2006-07 Rs. 18.29 crore
2007-08 Rs. 70.00 crore
2008-09 Rs. 75.00 crore
2009-10 Rs. 125.00 crore