Ludhiana: To revive the discontinued mortgage schemes for varied minorities together with Sikhs, Christians, Muslims, Buddhists, Parsis and Jains and others, Punjab Backward Classes Land Development And Finance Corporation (Backfinco) vice-chairman Mohd Gulab on Thursday met Social Justice, Empowerment and Minorities Minister Sadhu Singh Dharamsot.
Mohd Gulab mentioned that earlier the state authorities used to present monetary help to the minorities by giving them loans for beginning small companies. He informed the minister that Backfinco was established in 1976 to uplift the financial situation of the backward lessons and economically weaker sections of the state.
Gulab informed that following National Backward Classes Finance and Development Corporation (NBCFDC) and the National Minority Finance and Development Corporation (NMDFC) got here into existence, Backfinco was appointed a nodal company to implement the self-employment schemes of each companies within the state.
He mentioned that below these schemes, loans have been offered to the goal group at an rate of interest of solely 6% each year. The age restrict for the goal group was 18 to 55 years and the annual revenue was lower than Rs. 300,000 for rural and concrete areas, he mentioned and added that fifty% of loans got to the candidates whose annual household revenue was up to Rs. 1, 50,000.
He additionally knowledgeable that loans have been offered by the companies below the Education Loan Scheme for the backward lessons.
Gulab mentioned that since 2017, NMDFC had discontinued the time period mortgage scheme for Sikhs, Muslims, Christians, Buddhists, Parsis and Jains which disadvantaged deprive the deserving youths of those communities to avail the advantages of those schemes. He urged the cupboard minister that the individuals of those communities are an integral a part of society and the state authorities ought to restart all these welfare mortgage schemes instantly.
On the event, the Minister assured Gulab to look into the problem and directed the officers to instantly work on the modalities for restarting the schemes.