The Government approved the increasing the authorised share capital of the National Minorities Development and Finance Corporation (NMDFC) to Rs 850 crore from Rs 750 crore.

"This will ensure higher flow of funds to National Minorities Development and Finance Corporation (NMDFC) and enable it to be more effective in helping the target groups", said the Minister of Information and Broadcasting Shri Priyaranjan Dasmunsi after the Cabinet meeting.

The Government approved the increasing the authorised share capital of the National Minorities Development and Finance Corporation (NMDFC) to Rs 850 crore from Rs 750 crore.

"This will ensure higher flow of funds to National Minorities Development and Finance Corporation (NMDFC) and enable it to be more effective in helping the target groups", said the Minister of Information and Broadcasting Shri Priyaranjan Dasmunsi after the Cabinet meeting.

The decision is expected to help the corporation raise more funds from the financial institutions for providing credit at subsidised rate. The government had raised the share capital of the NMDFC last year also in November by Rs 100 crore.

The cabinet also gave in-principal approval for restructuring of the NMDFC. "It can then be a holding company for the Minority partnership and National Wakf Development Agency, both of which will also be registered as NBFCs", he said(BPI)