• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Advertisement
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Governance

National Minorities Development & Finance Corporation (NMDFC)

January 29, 2021
in Governance
Reading Time: 3min read
0
National Minorities Development & Finance Corporation (NMDFC)
38
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook

In News: The National Minorities Development & Finance Corporation (NMDFC) was incorporated on 30th September 1994, with the objective of promoting economic activities amongst the backward sections of notified minorities.

About NMDFC

  • The National Minorities Development & Finance Corporation (NMDFC) was incorporated on 30th September 1994, as a company not for profit, under Section 25 of the Companies Act 1956 (now Section-8 of Companies Act,2013). 
  • It is a National Level Apex Body for the benefit of Minorities as defined under the National Commission for  Minorities Act 1992.
  • The prime mandate of NMDFC is to provide concessional finance to the Minorities for self employment/ income generation activities. 
  • As per the National Commission  for Minorities Act, 1992, the notified Minorities are Muslims, Christians, Sikhs, Buddhists & Parsis. Subsequently, Jain  community was also added into the list of notified Minority Communities in January 2014. 
  • Under the NMDFC program, preference is given to Artisans & Women.
  • The National Minorities Development & Finance Corporation (NMDFC)  is functioning under the administrative control of the Ministry of Minority Affairs.
  • The NMDFC is a Public Sector Undertaking, registered under the Section 25 of the Companies Act 1956, as a “Company not for profit”.

Aims & Objectives

  • To promote economic and developmental activities for the benefit of “Backward Sections” amongst the Minorities, preference being given to the occupational groups and women;
  • To assist, subject to such income and/or economic criteria as may be prescribed by the Government from time to time, individuals or groups of individuals belonging to the Minorities by way of loans and advances for economically and financially viable schemes and projects; under micro-financing scheme, group of individuals belonging to the minorities will include such groups in which predominantly (75% and above) members belongs to the Minority Community.
  • To promote self-employment and other ventures for the benefits of Minorities;
  • To grant loans and advances at such rates of interest as may be determined from time to time in accordance with the guidelines or schemes prescribed by the Central Government or by the Reserve Bank of India;
  • To extend loans and advances to the eligible members belonging to the Minorities for pursuing general/professional/technical education or training at graduate and higher level;
  • To assist the up-gradation of technical and entrepreneurial skills of Minorities for proper and efficient management of production units;
  • To assist the State level organisations dealing with the development of the Minorities by way of providing financial assistance or equity contribution and in obtaining commercial funding or by way of refinancing;
  • To work as an apex institution for coordinating and monitoring the work of all corporations/boards/other bodies set up by the State Government/Union Territory Administrations for, or given the responsibility of assisting the minorities for their economic development and
  • To help in furthering the Government policies and programmes for the development of Minorities.

Minorities

Muslims, Sikhs, Christians, Buddhists, Jains and Zoroastrians (Parsis) have been notified as minority communities under Section 2 (c) of the National Commission for Minorities Act, 1992.

  • Constitutional Provisions:
    • The term “minority” is not defined in the Indian Constitution. However, the Constitution recognises only religious and linguistic minorities.
    • Article 29: It provides that any section of the citizens residing in any part of India having a distinct language, script or culture of its own, shall have the right to conserve the same.
    • Article 30: Under the article, all minorities shall have the right to establish and administer educational institutions of their choice.
    • Article 350-B: Originally, the Constitution of India did not make any provision with respect to the Special Officer for Linguistic Minorities. But, the Seventh Constitutional Amendment Act of 1956 inserted Article 350-B in the Constitution.

Parliamentary Provisions:

    • National Commission for Minorities Act, 1992: It defines a minority as “a community notified as such by the Central government.”

 

Source: PIB
Tags: PIBPrelims

Related Posts

Family Planning Logistics Management and Information System

February 23, 2021
FOCAL portal

FOCAL portal

February 19, 2021
CAR-D portal

CAR-D portal

February 19, 2021
E-Chhawani portal and mobile app

E-Chhawani portal and mobile app

February 17, 2021
Protest Toolkit

Protest Toolkit

February 16, 2021
Policy on Open Application Programming Interfaces (APIs) for Government of India

Policy on Open Application Programming Interfaces (APIs) for Government of India

February 13, 2021
Policy on Open Standards for e-Governance

Policy on Open Standards for e-Governance

February 13, 2021
Meghraj: GI Cloud

Meghraj: GI Cloud

February 13, 2021
Mobile Health Services in India

Mobile Health Services in India

February 13, 2021
Augmentation of Coal Production Capacity

Augmentation of Coal Production Capacity

February 12, 2021
Please login to join discussion
February 2021
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
« Jan    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tags

AIR Down to Earth EU g20.utoronto.ca GS-1 GS-2 GS-3 GS-4 imi3.nhp.gov.in Kurukshetra Mains News Paper PIB powergridindia.com Prelims RSTV Science Reporter Survey Yojana Zee news
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society

Browse by Tag

AIR Down to Earth EU g20.utoronto.ca GS-1 GS-2 GS-3 GS-4 imi3.nhp.gov.in Kurukshetra Mains News Paper PIB powergridindia.com Prelims RSTV Science Reporter Survey Yojana Zee news

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In