Minority Development Programme:
‘Swavalambana’ Margin Money Loan Scheme
- Loan facilities are provided through various Nationalized Banks/Financial Institutions for business, services, industries and agriculture based activities for the maximum project cost upto Rs.1,00,000/-.
- 20% of the project cost will be sanctioned by the Minority Development Corporation as Margin Money loan @ 7% interest. Balance is provided by the Banks/Financial institutions. A Subsidy upto Rs.5,000/- is also provided by the Corporation.
- Under this Scheme, a subsidy element of 50% of the unit cost or maximum amount of Rs.5, 000/- will be released to the beneficiaries.
- For who wish to avail loan for Business, Services, and industries, for the unit cost upto Rs.25,000/-, only subsidy of Rs.5,000/- (maximum) will be released and for unit cost above Rs.25,000/- to Rs.1.00 lakh, Subsidy and Margin Money will be released.
Arivu (Education Loan) Scheme:
- The Govt. of Karnataka has introduced “Arivu” (Education loan) to help the minority students with financial assistance upto Rs.75, 000/- per year till the completion of the course
- It is given for the professional courses like Medical, Engineering, Dental, Master Degree Courses, Diploma Courses, Nursing, B.Ed, D.Ed, and ITI.
- The loan has to be repaid after completion of the course with 2% interest.
Ganga Kalyana Scheme:
A. Community Irrigation:
- The beneficiaries should be small and marginal farmers and those who have totally 8 acres of land comprising 3 beneficiaries, will get 2 borewells and 15 acres of land comprising of 5 beneficiaries, will get 3 borewells and each beneficiary should have 2 to 3 acres of land.
- Borewells are drilled underground, submersible pumpsets will be installed and energisation for the borewell will be done by the Minority Corporation.
- This scheme is entirely a subsidy scheme.
B. Individual Borewell:
- For the beneficiary holding 2 to 5 acres of land, one borewell will be drilled and pumpset will be supplied. The total expenditure is Rs.1, 00,000/-
- Under this scheme, the minority artisans will be trained to upgrade their Artistic and Technical skill and also loan upto Rs.25,000/- (maximum) will be provided at lower rate of interest to improve their business.
Land Purchase Scheme:
- Under this scheme, the Corporation will purchase the agricultural land and this will be given to the poor landless minorities farmers in the rural areas.
- 2 acres of Dry Land or 1 acre of wet land will be distributed to each beneficiary.
- Each acre of land costs Rs.30,000/-. The cost of land will be treated as 50% loan and 50% subsidy to the beneficiaries. The loan has to be repaid in 4 yearly installments @ 7% interest per annum.
National Minorities Development & Finance Corporation’s Direct Loan Scheme:
- NMDFC is extending loan to the religious minorities throughout its SCAs (State Channelising Agencies). In Karnataka, Karnataka Minorities Development Corporation is the SCA.
- The NMDFC releases the loan @3.5% to the SCAs as against the Govt. Guarantee provided by the State Government.