Corporation distributed loans under micro-credit finance scheme

Corporation distributed loans under micro-credit finance scheme

Mangalore Today News Network

Mangalore, June 14:  A total of 129 members of 17 self-help groups (SHGs) in Deralakatte and Ullal received loans of Rs 11.17 lakh among the Karnataka Minorities Development Corporation under the micro-credit finance scheme of the corporation for starting small business units. The beneficiaries were women belonging to SHGs from the Muslim Community. 

N. B. Aboobakkar, the chairman of the corporation; MLA U. T. Khader; and District-in-charge Minister Krishna J. Palemar were present. 

Mr. Aboobakkar said that the corporation has given loans of Rs 14.6 lakh to more than 140 self-help groups all over the DK district during the last fiscal year under the same scheme. 

Mr. Palemar stated that, next to Belgaum, DK ranks second in Karnataka for repayment of micro-credit loans by self-help groups. Mr. Khader urged the beneficiaries to make judicious use of the loans. 

One of the beneficiaries told journalists that she wants to establish a tailoring unit and a flower shop with the Rs 1 lakh loan she received on the occasion.