Minority Corp on recovery drive

The Karnataka Minorities Development Corporation (KMDC) has emphasised on the recovery of loans disbursed to members of minority communities. The corporation has so far disbursed loans of about Rs 200 crore in the last two and half years and has recovered Rs 66 crore till date.

Chairman of KMDC M B Abubakker told reporters here that four regional-level recovery officers have been appointed to ensure the speedy recovery of loans. The officials have been asked to visit every village and hold camps to recover the loan by convincing the debtors to repay their loans.

This year the corporation disbursed loans to the tune of Rs 130 crore to 89,572 beneficiaries. Loans are provided to take up self employment and also to pursue higher education.

To bring in more transparency in the functioning of the corporation, all district-level offices are being computerised.

Abubakkar said, the corporation, to eliminate middlemen has taken steps to credit the loan directly to the bank account of the beneficiary.

On the future plans of the KNDC, Abubakkar said a proposal has been submitted to the government urging it to provide housing loans to the minorities, residing both in rural and urban areas.

The corporation proposes to provide housing loan to the tune of Rs 3 lakh to those residing in rural areas and Rs 5 lakh to those in urban area. The government has been requested to sanction Rs 10 crore for the same, he said.

The chairman said a district level committee to select the beneficiaries has been proposed. This is in view of complaints of nepotism from local legislators in selecting beneficiaries. The committee will comprise of local MLA, ZP CEO and officers from various departments.

Abubakkar informed that the KMDC had signed an MoU with the NIIT to make the graduates and post-graduates from minority communities employable. The students would be given training on banking and the corporation would bear the training expenses. Once the student is employed, he has to repay the training fess in easy installments.

Cheque distribution
District in-charge minister Jagadeesh Shettar will distribute cheques to the beneficieries at a function to be held at Karnatak Chamber of Commerce and Industry on November 26. He will give away Rs 1.8 crore.