Minorities dept seeks Rs 300 crore grant for next fiscal

NT Correspondent

Bengaluru: Karnataka Minorities Development Corporation (KMDC) Chairman Mukhtar Hussain Pathan said a memorandum will be submitted to Chief Minister Basavaraj Bommai to allocate Rs 300 crore in the State Budget for the year 2022-23 for the uplift of minorities.

Talking to reporters here on Thursday, he said in the last budget, Rs 55 crore was released to the Corporation but still they require another Rs 48 crore for various schemes including education. In the current financial year, the Corporation has plans to implement three new schemes. Pathan said the Corporation wants to give loans to those who want to study abroad at 4 percent interest, up to Rs 5 lakh loan to build houses and up to Rs 10 lakh loan for trade and business purposes. This required a minimum of Rs 300 crore grant from the state government. He said rumors were spread in social media that the Minorities Development Corporation has lost NCEF status being given by Reserve Bank of India and the Corporation would be liquidated. This is baseless and no one must worry about it. There was no connection between the Corporation and the RBI. As per guidelines, the RBI has sought some clarification and it has been given. People need not get panicky, he said.