GMFDC and Guj govt released loan of Rs 14.25 cr & Rs 3.03 cr

Gujarat Minorities Finance and Development Corporation (GMFDC) and Gujarat Government have released a loan of Rs 14.25 crore and Rs 3.02 crore to those affected by 2001 earthquake and 2002 communal riots respectively, Lok Sabha was informed today.
Union Minister of State for Minority Affairs Mukhtar Abbas Naqvi shared the information in connection with a query in this regard.
Replying to another query whether the Gujarat Government has submitted a proposal to Centre to waive the interest amount of over due loan of GMFDC, Naqvi replied in affirmative.
"A proposal to waive the interest amount on overdue loan of GMFDC was received. To waive the interest amount on overdue loans, National Minorities Development and Finance Corporation (NMDFC) offered GMFDC to settle the overdues under One Time Settlement (OTS) scheme.

"GMDFC has availed the OTS scheme and made upfront payment of Rs 16.10 crore to settle the overdues. As part of OTS, NMDFC has also waived the penal interest of Rs 7.10 crore.
"Thus, schemes of NMDFC have resumed in Gujarat with disbursement of Rs 2 crore to GMFDC in December, 2015," Naqvi said.