Self employment loan upto Rs 10 lakh majorly for Muslims and Christians with subidized interest rate - Kerala State Government

Bill initiated on Jan 2014:
The newly founded Kerala State Minorities Development Finance Corporation (KSMDFC), as part of its first phase of operations, is offering loans to qualified individuals who belong to Christian, Muslim, Sikh, Parsi, Buddhist, and Jain communities.
KSMDFC chairman Cherkalam Abdullah told reporters here on Thursday that the loans were being offered under various projects of the corporation such as self-employment entrepreneurship loan, expatriates loan, mirco-finance, and Mahila Samruddhi Yojana to individuals in the age group of 18 to 55.
The self-employment entrepreneurship loan is up to Rs.10 lakh at an interest rate of 2 to 6 per cent and beneficiaries get 60 to 72 months to repay it. The corporation offers loans for small-scale enterprises, technical enterprises, and for units dealing with handicrafts, agriculture, and transport.
The scheme for expatriates is aimed at returnees from the Gulf countries as a result of Nitaqat. They will be provided vocational training and loans up to Rs.10 lakh at 3 per cent interest to set up enterprise. Those who would like to return to the Gulf may apply for a visa loan of up to Rs.3 lakh at 5 per cent interest that may be repaid in six years
The micro-finance scheme is for NGOs or community development schemes. A member of the said communities, who belongs to a recognised Self-Help Group (SHG), may get a loan of Rs.25,000. The repayment may be made in 36 months. The same scheme is available for women’s organisations and SHGs under the Mahila Samruddhi Yojana. Haneefa Perincheeri, managing director, said the KSMDFC also offered free short-term vocational courses twice a year for youngsters who wished to set up a self-employment unit.
Forms are available on or The filled-in forms may be sent to The Managing director, KSMDFC, KURDFC Building, Chakkorathukulam, West Hill PO, Kozhikode-673005 by February 15. Ph: 0495-2769366 or 2369366.
Indian Express News:
THIRUVANANTHAPURAM: Kerala State Minority Development Finance Corporation (KSMDFC) will provide vehicle loans up to Rs 10 lakh at a low interest rate of 6 per cent. The aim is to help those in minority communities achieve self reliance.
Loans will be provided to buy vehicles such as auto, taxi, goods rickshaw, car, jeep, tempo and pick-up van. Priority will be given to loans for buying light vehicles.
Loans will be provided against a property of minimum four cents or guarantee by a government official.
Interested parties are requested to be present with vehicle invoice, ration card, electoral ID card, caste certificate and income certificate in one of the following centres: Minority Coaching Centre, Samasthalayam, Upper Thampanoor, Thiruvananthapuram; Minority Coaching Centre, Bank Junction, Aluva, Ernakulam; KSMDFC Head Office, Chakkorathukulam, West Hill, Kozhikode.
The income limit for those in villages and cities is Rs 81,000 and Rs 1,03,000 respectively.
Those unable to come to a centre listed above can send their application by post till September 20 to the Managing Director, Kerala State Minority Development Finance Corporation,  Chakkorathukulam, West Hill, Kozhikode. For details, visit or Contact: 0495-2769366, 2369366.



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