Minorities Corporation to facilitate bank loans for building houses

Minorities Corporation to facilitate bank loans for building houses

Aboobacker was addressing a press conference in the City. A proposal has been prepared in this regard and sent to the finance department, Aboobacker said. Once the proposal gets the department’s approval, the project would be implemented, he said.
Loans will be extended to purchase sites, to those who don’t own one and for those who wish to construct houses. An amount of Rs 51.20 crore, Rs 49.20 crore and Rs 60 crore was released to the Corporation in the three years since the BJP government came to power in the State respectively, he said.

The grants for 2011-12 will be Rs 100 crore, he announced. This shows that the BJP government is committed to the development of the minorities, Aboobacker said. An amount of Rs 4.11 crore was provided to 160 beneficiaries to purchase agriculture land in 2010-11 and the project was in the implementation stage, Aboobacker said.
Ten students had already been given banking training through NIIT, he informed. The candidates got jobs in ICICI and IDBI banks. The number of students who would get such an opportunity in 2011-12 will be 60, he said.

Offices in all districts   
The Corporation would open its offices in all 30 districts and the projects were being implemented through seven cluster districts, he announced. The Corporation head office would be computerised and an online system would be in place.

Though there were dues to the tune of Rs 160 crore from those who have taken loans from the Corporation, the repayment rate had increased of late, from Rs 30 lakh a month to Rs 1.5 crore, Aboobacker said.

But the repayment rate in the district was only 18 percent and steps would be taken to improve the same, he added. The share capital of the Corporation would go up from Rs 60 crore to Rs 100 crore.

Waived interest
The government has waived of interest to the tune of Rs 2.37 crore on the loan given to 830 silk reelers in Kolar, Bangalore, Ramanagar and Bangalore Rural districts. They have been given an opportunity to repay the principal in one go, Aboobacker said. He later distributed cheques to beneficiaries of various schemes at the Corporation office.
District officer of the Corporation, N G Chennigaraya, besides minority community leaders like Begli Siraj, Aslam Pasha, Syed Irshad Kharid, C D Ramalingegowda of JD(S) and others were present.

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