Maulana Azad Corporation PDF Print E-mail

Since my appointment as the Chairman of Maulana Azad Minorities Financial Development Corporation Ltd. in November 2007, it has been my earnest desire to bring the Minority Communities into the mainstream of the society. Realising that this can be achieved only through making them financially independent, I channelized allMaulana Azad Corporation my efforts to get the stringent terms and conditions prescribed for the grant of loans relaxed, so that the minorities could benefit from the various schemes of the corporation. Thankfully, by the grace of the Almighty, the support of our Chief Ministers & Finance Ministers, the Board of Directors and other concerned officials, I feel we have been successful in our endeavor to a great extent. But, there is yet more to be done and more to be achieved.

Our next move was to raise the upper limit of Education loan under the Rajiv Gandhi Educational Loan. By influencing the influencers, we could amend the policy and get the loan limit raised to Rs. 5 Lakh from the existing Rs. 3 Lakh.

Simultaneously, we also successfully introduced two new schemes-One being the financial assistance upto Rs. 1 Lac to farmers and fishermen under the Indira Gandhi Loan Scheme and the second being a loan scheme under the Maulana Azad Education Loan upto 2.50 lakh. The Income limit of the beneficiaries of the Maulana Azad Education Loan Scheme is Rs. 2.50 lakh.

The Maulana Azad Minorities Financial Development Corporation has been making efforts to reach out to the needy, and destitute women of the minorities community in the State and provide them self employment with timely financial aid under the Scheme for micro finance. The Corporation has thus provided loan amounting to Rs.8.98 cr. to 882 self help groups of 7641 beneficiaries comprising of divorcees, destitute and other needy women during the last two years.

Efforts have also been made to provide loan on easy terms to women entrepreneurs in the State. In this way, thousands of women from the minorities community have benefited from the various schemes of the Corporation, and have become self reliant, providing empowerment to women in the true sense. The target for 2009-10 were set at Rs.10 crore. As we all will agree, happy and prosperous women are the reflection of the progress made by the society and the corporation is doing its mite to achieve this goal.

Achievements in the last 2 years:

  • In 2007-2008, Rs.13.35 crore were sanctioned for 2416 beneficiaries.
  • In 2008-2009, Rs.27.98 crore were sanctioned for 9632 beneficiaries.
  • In the current year, Rs.102 crore have been sanctioned for 23328 beneficiaries.
  • In last two years, Rs. 142.03 crore have been given to 35376 beneficiaries.

I am grateful to the Almighty for giving me this opportunity to serve the community at large. I am also thankful to the Chief Minister and the State Government for enhancing the authorised share capital of our corporation from Rs. 50 crore to 100 crore and now to 175 crore in the last one and half year. It is our assurance that the corporation will utilize these funds for the optimum benefits of the minority communities.

We don’t want to rest on our laurels. We understand that there are many more miles to go and many more milestones to cover. Our endeavour will be to better our best.

Regards.
Amin Patel

Chairman

 

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