Minorities’ body plans loan scheme for riot, disaster victims | india | Hindustan Times
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Minorities’ body plans loan scheme for riot, disaster victims

Members of minority communities who lose their livelihood in riots or due to natural calamities could soon get aid from the government, reports Sweta Ramanujan-Dixit.

india Updated: Jan 03, 2009 01:47 IST
Sweta Ramanujan-Dixit

Members of minority communities who lose their livelihood in riots or due to natural calamities could soon get aid from the government.

The Maulana Azad Minorities Financial Development Corporation is planning to introduce a special loan scheme for persons from minority communities who are affected by riots or natural calamities. On Wednesday, the corporation’s board passed a proposal that the funds allocated for minorities be used for rehabiliation purposes too. The corporation will now approach the state government with the proposal.

“We realised the need for a scheme like this when we were helping victims of the recent Dhule riots,” said chairman of the coporation, Amin Patel. “Victims of such incidents take time to recover their losses and need to be rehabilitated.”

Under the proposed scheme, a victim of a riot or natural calamity could avail of a loan upto Rs 10 lakh to start a small business or make good the losses suffered to his or her source of livelihood. “The first five lakhs will be interest-free. Between Rs 5 lakh and Rs 10 lakh, the interest will be 3 per cent per annum,” said Patel.

The beneficiary of the scheme will have to repay the loan after a period of six months. “The scheme will applicable to all minorities,” said Patel. “Riots or floods do not affect only Muslims.”

The corporation recently disbursed over Rs 1 crore in loans to 108 victims of the Dhule riots. It also made getting loans between Rs 5,000 and Rs 50,000 easier by allowing a simple guarantor. The corporation has also resolved that any person above 18 years of age and literate enough to sign and write his or her name can get a small loan.

Meanwhile, Chief Minister Ashok Chavan, on Monday, directed the minorities development department to ensure that all schemes for minorities are implemented immediately.