Invited applications from minorities to avail various loan facilities

The Karnataka Minorities Development Corporation (KMDC) has been inviting online applications from Muslim, Christian, Jain, Buddhist, Sikh, Parsi and Anglo-Indian communities to avail loans and grants under various schemes. Under the Shramshakti scheme, loans ranging from Rs.25,000 to Rs. 50,000 are available to engage in professional trades with a 4% equity stake. The annual income of the applicant should not exceed Rs. 3.50 lakh.

Under the self-employment scheme, beneficiaries will receive a grant of Rs. 1 lakh to Rs. 5 lakh for farming and other similar activities. The annual income of applicants from the rural area should not exceed Rs. 81,000 while for urban applicants, it should not exceed Rs. 1,03,000. Grant for the purchase of a taxi, passenger vehicle or cargo vehicle costing up to Rs. 7.5 lakh, beneficiaries will receive Rs. 75,000 to Rs. 2.5 lakh . The annual income of applicants must not exceed Rs. 4.5 million.

People between the ages of 18 and 55 can apply. Those who have received loans or benefited from these programs in the past will no longer be eligible to receive loans. Applications can be submitted online by July 15 and a copy of the completed application and supporting documents should be submitted to the nearest KMDC office. For more details, visit the Minorities Development Corporation office located on the first floor, Moulana Azad Bhavan, next to Shobha Garden, Mysuru-Bengaluru Road, Subash Nagar or call tel. website: https://kmdconline.karnataka.gov.in.

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