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Minorities' panel chairman wants pre-2005 loans waived

Aboobakkar says the corporation's outstanding loan stands at Rs. 60 crore


Karnataka State Minorities Development Corporation will send a proposal in this regard

Panel chief backs demands to ban KFD in the wake of kidnapping and murder of students


Shimoga: Chairperson of Karnataka State Minorities Development Corporation N.B. Aboobakkar on Monday said a proposal will be submitted to the State government to waive off the loans given by the Corporation to different beneficiaries prior to 2005.

Mr. Aboobakkar told the reporters that the outstanding loan amount disbursed under various schemes prior to 2005 stood at Rs. 60 crore. The corporation was facing difficulties in recovery because of the loopholes in the process of documentation during the sanctioning of loan amount.

However, he ruled out the possibility of a complete waiver. The Corporation has distributed Rs. 256 crore since its inception as financial assistance and loan under various schemes, of which Rs. 160 crore remains outstanding. Priority is given to recovery of fresh loans.

Mr. Aboobakkar claimed that 88 per cent of the loan awarded in the last three years had been recovered.

The corporation will help degree-holders from minority community secure jobs in banks. Last year, the corporation had sponsored the training of 10 candidates from the minority community at the National Institute of Industrial Training, and were later employed by private sector banks like ICICI and IDBI. This year, corporation had planned to provide similar training for 60 candidates, he said.

Financial aid

Under land ownership scheme, the corporation has planned to extend financial assistance to 244 persons this year to purchase two acre land each. The financial assistance for purchasing an acre has been revised from Rs. 30,000 to Rs. 2.5 lakh, he said.

To a question, he backed the move to ban Karnataka Forum for Dignity in the wake of the organisation's alleged role in the recent kidnap and killing of two students from Hunsur.

“Any organisations involved in anti-national activities need to be banned,” he said.

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