Dr. Shandil Chairs BoD Meeting of Minorities Finance and Development Corporation

Shimla, 28th June 2024 – Health, Social Justice and Empowerment Minister Dr. (Col.) Dhani Ram Shandil chaired a Board of Directors (BoD) meeting of the Himachal Pradesh Minorities Finance and Development Corporation today. The meeting approved fresh appointments and addressed other significant agendas.

Dr. Shandil emphasized that the Corporation was established to ensure the social and economic upliftment of minorities and Divyangs (persons with disabilities). He announced plans to restructure the Corporation’s administrative and structural components to better meet the current needs of these communities.

The Board reported that loans amounting to Rs. 1296.45 lakh were provided to minorities during the financial year 2023-24, and Rs. 540.83 lakh in loans were disbursed among Divyang beneficiaries.

The Corporation supports minorities and Divyangs by offering loans to start businesses or pursue professional studies. Loans are available to individuals aged 18 to 55 for various purposes, including shops, small businesses, technical trades, traditional occupations, transport, and agriculture. Minorities can receive loans up to Rs. 30 lakh at an interest rate of 6%, while education loans are offered at a minimum of 4% interest.

For Divyangs, loans up to Rs. 50,000 are provided at 5% interest, Rs. 50,000 to Rs. 5 lakh at 6% interest, Rs. 5 lakh to Rs. 15 lakh at 7% interest, Rs. 15 lakh to Rs. 30 lakh at 8% interest, and Rs. 30 lakh to Rs. 50 lakh at 9% interest.

Since its inception, the Corporation has disbursed Rs. 159.68 crore in loans to 3,486 minority beneficiaries and 1,900 Divyangs.