"We are planning to complete the restructuring process of NMDFC by the end of this year to reduce its dependency on State Channelising Agencies (SCAs) and to expand its scope in development of minority community," Secretary, Minorities Affairs Ministry Surajit Mitra told reporters here today.
Speaking to reporters on the sidelines of the 'Annual Conference of State Channelising Agencies' he said, "Presently NMDFC is fully dependent on SCAs for disbursement of loans needed by various states for running their programs for development of minorities."
On recovery of loan amount from various state, he said it was below expectation this year but refused to name the states which faltered in this regard.
Addressing a gathering of SCA officials and state representatives, Mitra said the scope of NMFDC will further be expanded during the 12th Plan period.
The Ministry has also sought proposals and suggestions from various state directors of NMDFC to bring in the required change in its functioning and disbursal of loans.
NMFDC was set up in 1994 and presently has an authorised share capital of Rs 1500 crore.
The Corporation offers term loans, mirco-finance, educational loans and funds for capacity building of minority community.
Recently the Minorities Affairs Ministry sought an outlay of Rs 1,075 crore from the government for equity investment in NMDFC.
