The government is to restructure the National Minorities Development and Finance Corporation, NMDFC, which is tasked to disburse loans for development of minorities, by the end of this year. This was stated by the Secretary in the Ministry of Minority Affairs Surjit Mitra after inaugurating the annual conference of the State Channelising Agencies, SCAs, of the NMDFC in New Delhi today.

He said the restructuring process is aimed at reducing the dependency of NMDFC on SCAs and expanding its scope in development of minority community during the 12th plan period.

Mr Mitra emphasised the need to further extend micro credit and micro financing schemes to benefit the poorest people belonging to the minority community in the country. He called upon the states to cooperate and synergise their efforts with the Centre to enhance concessional finance to the minorities living below the poverty line for self-employment.

AIR correspondent reports NMFDC was set up in 1994. It offers term loans, mirco-finance, educational loans and funds for capacity building of minority community.