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11.5 Lakh beneficiaries belonging to weaker sections provided Soft Loans
New Delhi: May 9, 2003

More than 11.5 Lakh beneficiaries belonging to Scheduled Castes, OBCs, minorities and the disabled have been provided soft loans at a concessional rate worth 2,439 crore rupees. The loans have been advanced for income generating schemes generally in agriculture and allied activities, small businesses, service sector, transport sector technical trades etc. This was stated by the Ministries for Social Justice and Empowerment Dr. Satyanarayan Jatiya while addressing the meeting of the Parliamentary Consultative Committee attached to his Ministry here today. He said that changes have been brought in the lending policies so that a larger number of target groups belonging to weaker sections can be provided institutional finance at a concessional rate. Dr. Jatiya said that the ceiling of loan amount under Micro-credit schemes has been raised to 25,000 rupees from 10,000 rupees. The interest rate has also been reduced to 5% under micro credit and 6% under term loan. Similarly the interest rate under "New Swarnima" Scheme for women belong to backward classes has been fixed at 4% per annum. The Minister said that MOU system is being implemented with renewed vigor. The MOU system is in operation in National Scheduled Castes Finance and Development Corporation (NSFDC) and National Backward Classes Finance and Development Corporation.(NBFDC). Dr. Jatiya felicitated both these corporations for bagging MOU Award for Excellence in Performance from the President of India. The Minister urged the State governments to make State Chanelising Agencies (SCAs) more effective as most of the loans are advanced through SCAs nominated by State governments.

The Minister of State for Social Justice and Empowerment Dr. Sanjay Paswan said that we must find alternative ways of advancing loans in States where SCAs are either not effective or not functioning properly.

Participating in the meeting, the MPs wanted that a strong message should be sent to states that the Centre is keen on improving the lot of weaker sections through institutional financing and also about proper utilisation of the Special Central Assistance funds under Special Component Plan. They said that Centre should call a meeting of the Welfare Ministers of State Governments in this regard. The Members of Parliament who participated in the meeting are Shri Ramji Lal Suman, Shri K H Muniyappa and Shri Kishan Lal Diler. The Social Justice and Empowerment Secretary Shri C Gopal Reddy, other senior officials and the Managing Directors of the five Corporation of the Ministry took part in the meeting.

Press Release by: PIB/MLD/PK/ SJ&E 49-03 (Consultative) May 9
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