In a significant development influenced by the recently joined Ajit Pawar-led Nationalist Congress Party (NCP), the Maharashtra cabinet approved a proposal on Wednesday to raise the government guarantees for the Maulana Azad Minorities Financial Development Corporation. The guarantee has been increased from Rs 30 crore to Rs 500 crore, enabling the corporation to secure loans from the National Minorities Development and Finance Corporation (NMDFC).
The corporation, which currently has a loan limit of Rs 30 lakh per applicant, faced limitations in disbursing funds due to a high number of applications. Despite receiving 2,454 loan requests, only Rs 3.20 lakh could be distributed to each applicant due to insufficient funds, according to an official from the Minorities Development Department.
The increased government guarantee aims to empower the corporation to obtain more loans from NMDFC and better address the needs of applicants. The state had previously provided a loan guarantee of Rs 30 crore to the corporation in 2006, leading to NMDFC disbursing loans amounting to Rs 110.34 crore.
Leaders from the Ajit Pawar group reiterated their commitment to the original ideology of secularism, emphasizing that despite political alliances with the Bharatiya Janata Party (BJP) and Shiv Sena, the NCP remains dedicated to working for the betterment of Scheduled Castes, Dalits, Muslims, and other minorities. The decision comes a month after Deputy Chief Minister and Finance Minister Ajit Pawar pledged similar actions during a meeting with the delegation of Muslim organizations from the Minorities Development Department. Ajit Pawar emphasized the importance of upholding the NCP’s original ideology while addressing issues related to the Muslim quota and vowed to discuss these matters with Chief Minister Eknath Shinde and Deputy CM Devendra Fadnavis.
