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Loans for members of minority communities

Posted on: 24/01/2014

The newly founded Kerala State Minorities Development Finance Corporation (KSMDFC), as part of its first phase of operations, is offering loans to qualified individuals who belong to Christian, Muslim, Sikh, Parsi, Buddhist, and Jain communities.

KSMDFC chairman Cherkalam Abdullah told reporters here on Thursday that the loans were being offered under various projects of the corporation such as self-employment entrepreneurship loan, expatriates loan, mirco-finance, and Mahila Samruddhi Yojana to individuals in the age group of 18 to 55.

The self-employment entrepreneurship loan is up to Rs.10 lakh at an interest rate of 2 to 6 per cent and beneficiaries get 60 to 72 months to repay it. The corporation offers loans for small-scale enterprises, technical enterprises, and for units dealing with handicrafts, agriculture, and transport.

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