The Kerala State Minorities Development Finance Corporation Ltd.(KSMDFC Ltd.) Under The Ministry Of Minority Welfare Kerala
PROGRAMMES
The Kerala State Minorities Development Finance Corporation Ltd. (KSMDFC) was established on and registered under as a Non Profit company under the Companies Act 1956 on . The main objective of the company is to promote welfare and economic development of religious minority and recommended communities, as notified by the Central and State Government from time to time, by providing financial assistance by way of loans, advances, guarantees, securities and other financial aids subject to the guidelines as laid down by Government of India. As per the nation al commission of Minorities Act, 1992 the notified minority communities in the State are Muslims, Christians, Sikhs, Buddists and Parsis. Recently Jains are also included in the list by the Government of India.
The KSMDFC is providing concessional finance for self-employment, micro credit and for other activities. It also introduced welfare schemes to eligible beneficiaries belonging to minority communities. As per the recommendation of the National Commission for Minorities (NCM), the NMDFC (National Minorities Development and Finance Corporation, New Delhi) has identified the KSMDFC as its State Channelizing Agency in the State of Kerala to implement its schemes in the state.
The main objective of the scheme is to promote welfare and economic development of religious minority and recommended communities for setting up self-employment ventures. The scheme is for individual beneficiaries and beneficiary contribution need not be collected from the beneficiary, instead the beneficiaries are expected to utilize the amount along with the loan amount received from the KSMDFC for this purpose. The maximum loan amount that can be disbursed under this scheme is limited to 95% of the project cost or the amount requested by the beneficiary whichever is lower. The Corporation can assist a wide range of income generating activities under the following broad sectors
Women Empowerment
Up to Rs. Lakhs for Professional & Job Oriented Courses’ in India with a maximum duration of 5 years per annum.
Women Empowerment
Up to Rs. Lakhs for Professional & Job Oriented Courses’ in India with a maximum duration of 5 years per annum.
This scheme is for studying technical, professional and skill development courses of durations not exceeding 5 years. For Skill Development Programmes, the minimum periods shall be 1 year. The admission of the candidate in the course shall be through a merit-cum-selection process
Beneficiary contribution need not be collected from the beneficiary; instead the beneficiaries are expected to utilize the amount for the purpose along with the loan amount received from the KSMDFC. The maximum loan amount that can be disbursed under this scheme is limited to 95% of the cost or the amount requested by the beneficiary, whichever is lower.
The student shall submit the details of the admission fee, tuition fee and other fees to be paid by the student in the college in each year certified by the Principal or Head of the institution. The admissible expenditure includes admission fee, tuition fee, exam fee and hostel expenses only. The loan is available to students perusing approved full time regular courses only. The college/institute that offering the course should be a recognized institution by the Central/State Government or by an appropriate authority such as AICTE/MCI etc.
Mode of release: The installment amount will be paid by cheque/DD/NEFT in the name of institution. The parent will be the co-borrower of the loan amount. For availing subsequent installments, the utilization of previous installment and completion of the previous years of study is compulsory. A certificate in this regard shall be obtained from the head of the institution and submitted before the Corporation.