KMDC advances Rs 72.78 crore to 7616 students for higher education

Bengaluru (Karnataka) [India], June 11 (ANI): Karnataka Minorities Development Corporation has advanced Rs 72.78 crore to 7616 students for higher education in the current year.
After reviewing the progress of the KMDC here on Tuesday, Housing and Minorities Welfare Minister Zameer Ahmed Khan told reporters that a maximum loan of Rs 5 lakh has been sanctioned to the poor students belonging to minority communities studying medicine, engineering, Ayush, dental and pharmacy. Along with this, a loan of Rs 10 lakh had been given to 88 students which comes to around Rs 89 crore to study abroad.
He opined this has helped the minority communities students to do professional courses. Stress had been given to education as per the directions of Chief Minister Siddaramaiah.
For the first time, Rs 4.8 crore loan has been given to 961 women who do petty business. In this, 50 per cent was a subsidy and the rest must be repaid by the beneficiaries. Under the professional encouragement scheme, Rs 9.73 crore has been given to 973 persons and Rs 5 crore has been given to 1000 persons under the Shram Shakti scheme. In the current fiscal, 666 cards and 500 autorickshaws will be distributed among the beneficiaries and Rs 23.75 crore has been spent for this.
The minister said in the current year, Rs 200.60 crore loan has been recovered and it was more than Rs 50 lakh compared to the previous year. In the wake of complaints, directions had been given to the officials concerned to focus on energizing the sunken borewells under the Ganga Kalyana scheme prior.
The officers were also asked to increase the loan recovery percentage to utilise the same money on disbursing the education loan among the students. An action plan must be evolved for the effective implementation of the four new schemes in this year's budget
KMDC Chairman Althaf Khan and Managing Director Mohammad Nazir were present. (ANI)