The Hindu : KMDC extends financial aid to 11,000 people

Online edition of India's National Newspaper
Thursday, Apr 24, 2003

Southern States

Southern States - Karnataka-Bangalore

KMDC extends financial aid to 11,000 people

By Our Special Correspondent

Bangalore April 23. The Karnataka Minorities Development Corporation (KMDC) has extended financial assistance to a record 11,000 people in the last financial year and proposes to assist more people in the current year.

The Chairman of the corporation, Sulaiman U.Talkhani, told presspersons here today that the State Government had released Rs. 11.44 crore to the KMDC and the National Minorities Development and Finance Corporation had provided Rs. 4.39 crore.

Most of the beneficiaries were from Bangalore owing to the high minority population here.

The KMDC was constituted 15 years ago to serve the poorer sections among Muslims, Jains, Buddhists, Christians, and Parsis. In the current year, the State Government had earmarked Rs. 15 crore for the KMDC.

Among the popular schemes of the KMDC were the `Swavalambana margin money loan scheme', wherein money was provided to people to purchase autorickshaws, and the Arivu Scheme under which loans were extended to poor students to pursue higher studies, particularly professional courses such as medicine and engineering. The KMDC also conducted job-oriented training programmes, and got borewells drilled under the `Ganga Kalyan Scheme'.

Mr. Talkhani said the demand for autorickshaws was high, and the KMDC was finding it difficult to cope with the demand.

Last year, 713 beneficiaries, including 350 from Bangalore, were extended assistance, and the Chief Minister, S.M.Krishna, would distribute the autorickshaws at a public function here on May 15. The Chairman of the National Minorities Development and Finance Corporation would participate in the programme.

Mr. Talkhani said the Arivu Scheme was also popular and many students had benefited from it. Under the scheme, over 500 students were being extended loans at two per cent interest.

They had to repay the money to the corporation on completion of their studies. This scheme was introduced three years ago.

A medical student was given a loan of Rs. 1.25 lakh and an engineering student Rs. 1 lakh.

Mr. Talkhani said the administration of the corporation had been streamlined and transparency was its hallmark.

The list of the beneficiaries under each scheme was being displayed on the notice board at the corporation's head office and also published in newspapers.

Objections, if any, were invited from the people, and the finance was released only if there were no objections.

The recovery of loans was also a continuous process, he said.

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