The Kerala State Minorities Development Finance Corporation ( KSMDFC ) Ltd. was set up under the administrative control of the Ministry of Minority Affairs, Government of Kerala, with an objective to promote the economic and developmental activities for the benefit of Backward Sections amongst the notified Minorities such as Muslims, Christians, Sikhs, Buddhists & Parsis. Preference being given to occupational groups and women. It is a state channelizing agency of Central Government’s National Minorities Development Finance Corporation ( NMDFC ). KSMDFC implement it’s welfare activities with the aid of State Government and National Channelizing agency’s fund. Initially it has announced Self Employment Loan, Pravasi Loan, Nithaqat Loan, Employees Loan, Educational Loan ( In India and abroad ) and Micro Finance. Families having annual income up to rupees 81,000 in rural areas and rupees 1,03,000 in urban areas are eligible under the KSMDFC schemes.
KSMDFC is registered under The Companies Act 1956, as a Government Company with an authorized share capital of Rs. 100 Crores. Its Head office is situating in Kozhikode. It’s Chairman is Honorable Ex-minister Sri. Cherkkalam Abdullah and the Directors are;
1. Sri. Mohamed Haneefa Perincheeri ( Managing Director )
2. Sri. K. R. Jyothilal IAS
3. Adv. Jose Joseph
4. Sri. Justin Wills
5. Adv. P. Siavudeen
6. Dr. P. Nazeer and
7. The Managing Director, National Minorities Development & Finance Corporation
KSMDFC primary objectives is promote welfare and economic development of religious minority and recommended communities, as notified by the Central and State Government from time to time, by providing financial assistance by way of loans, advances, guarantees, securities and other financial aids subject to the guidelines as laid down by Government of India.
Objectieves of KSMDFC
(A). KSMDFC’s primary objectives is promote welfare and economic development of religious minority and recommended communities, as notified by the Central and State Government from time to time, by providing financial assistance by way of loans, advances, guarantees, securities and other financial aids subject to the guidelines as laid down by Government of India.
1. To formulate both short-term and long-term plans for the development of employment opportunities for the Minority and the Recommended communities.
2. To organize Self Help Groups or implement micro finance schemes through existing Self Help Groups.
3. To implement scholarship schemes for the benefit of the backward sections among the Minorities and Recommended Communities and also acting as a channeling agency of state/central government for implementing scholarship schemes.
4. To conduct variety of skill development programmes for the benefit of Minorities and Recommended Communities.
5. To implement welfare schemes of the State or Central government for the benefit of Minorities and recommended Communities especially for the backward sections in the Minority Community and Recommended communities.
6. To implement schemes for the benefit of the poorest among the poor through registered associations, organizations and institutions run by the minority communities.
7. To construct suitable houses or to help the persons concerned to construct houses by advancing money and materials to them, either from the funds of the Company or from financial assistance made available for that purpose by financial institutions.
8. To organize and develop village and cottage industries.
9. To organise and develop intensive agricultural operations in the lands belonging to the Minority and the recommended communities. Such as wakf properties, owned by registerd organisation, trusts etc.
10. To purchase or cause to purchase and lend on hire purchase basis all type of vehicles, machineries and instruments necessary for running electrical, mechanical and engineering workshops etc.
11. To advance money for purchase of land for house sites and for agricultural and small scale industrial activities. In urban areas up to 10 cents and in rural areas up to 25 cents can be purchased for construction of houses. For agricultural purpose one hectre of land in urban areas 4 hectres in rural areas can be purchased.
12. To run provision stores, stationery shops, spare parts shops, bookshops, hardware and electrical good shops, shops for consumable articles, boarding houses and hotels or to lend money to run such shops, houses and hotels.
13. To undertake and execute schemes for the economic well-being of the traditional fishermen and fish vendors from among Minorities and the recommended Communities and to provide financial assistance for purchasing or procuring fishing crafts, boats, gear fishing nets and other implements or articles required for all kinds of fishing in backwaters, sea and canals.
14. To organise, establish, develop and maintain small fishing centres, centres for the storage and processing and canning of fish including ice-plants.
15. To Finance by way of loans or otherwise to such members of Minorities and the recommended Communities who wish to start the professional units for Doctors (all types of medicines), Engineers, Lawyers, Architects, Chartered Accountant or such other useful professions.
16. To undertake or aid productions or supply of materials and articles for construction of buildings, for putting up poultry and dairy farms, agricultural implements.
17. To finance by way of loans or otherwise for organizing and developing poultry and dairy farming and intensive agricultural operations, to start and develop cottage industries, workshops and work centres.
18. To receive loans, advances, grants or other money from the Central Government, State Government, Local Bodies, Banks, Companies, Corporations, Co-operative Societies, Kerala Khadi and Village Industries Board, Khadi and Village Industries Commission, Trusts or individuals with or without interest in order to carry out the objects of the company.
19. To pay all costs, charges and expenses incurred or sustained in or about the promotion and establishment of company which the Board may consider to be, in the nature of preliminary expenses including there in the cost of advertising, printing and expenses attendant upon the formation of branches and agencies.
20. To purchase land, construct, maintain and alter any buildings or works necessary or convenient for the purpose of the company.
21. To receive, take over, improve or develop any land belonging to the Government of Kerala or the Government of India, Local Body or statutory Body for agriculture, fishery or industrial development, directly or in collaboration with Government, Local Body or statutory Body, Company or any member belonging to, Minorities and the recommended communities or groups of such person whether registered under law as Firm or Society or Company or not.
22. To set up, run and manage work production centres for manufacture of goods required for attaining the main objects of the company.
23. To employ brokers, Commission agents and document writers and to provide for remuneration of such persons for their services, promotion of business of the company in accordance with the provisions of the Companies Act, 1956 and this shall not for the activity on stock market/ capital market.
24. To promote and operate schemes for the benefit of Minorities and the recommended communities and for that purpose to prepare or get or cause to be prepared reports, blue prints, statistics and other information and to promote, organize, develop the cultural activities inherent in them.
25. To employ and remunerate experts to investigate and examine the conditions prospects, value and circumstances of any scheme for the welfare of Minorities and the recommended communities or a group of such person registered under law as Firm or Society or Company or not.
26. To enter into any partnership or arrangement of joint working with any other Company, Firm or person carrying on business with the same or similar object as this company, with the prior approval of Government only.
27. To sell, improve, manage, develop, exchange, lease, mortgage enfranchise, dispose, turn to account, otherwise deal with all or any part of the property and rights of the company, with prior approval of Government only.
28. To acquire and undertake the whole or any part of the business, property and liabilities of any person or company, with prior approval of Government only.
29. To enter into any arrangements with Government of India, Government of Kerala or any other Government Corporation, Local Authority or statutory Body for the purpose of carrying out the objects of the company or furthering its interests and to obtain from such Government or Authority, person or body any charters, subsidies, loans, indemnities, grants, contracts, licences, rights, concessions, privileges, or immunities which the Board of Directors may think it desirable to obtain and exercise and comply with any such arrangements, rights, privileges and concessions, with prior approval of Government only.
30. To invest the money of the company, not immediately required, in such manner other than in the share of this company, as from time to time may be determined.
31. To arrange for the supply of the raw materials required by any member of the Minorities and the recommended communities or group of such persons whether registered under law as Firm, Society or Company or not for taking up any productive programme.
32. To undertake the marketing of the produces, products and materials belonging to, legally collected or produced by any member of the Minorities and the recommended communities or group of such persons whether registered under law as Firm, Society & Company or not.
33. To Promote, finance or conduct directly or in collaboration with any member of Minorities and the recommended communities or Firm or Society or Company of such persons, hostels, boarding and lodging houses, hotels and restaurants.
34. In addition to the above the Company shall facilitate employment projects in any sectors, where there are opportunities by way of providing sufficient loan, expertise and marketing facilities.
(C). The other objects of the company not included in A and B above are :
1. To undertake or act as agency for implementing any scheme of Government of Kerala, Ministry of Minority Affairs, Government of India, Kerala Khadi and Village Industries Board, Khadi and Village Industries Commission or any agency approved by Government of Kerala for the benefit of Minorities and the recommended Communities.
2. To start and carry on producing of machine tools and equipments required for small scale industries.