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Loans to minorities in Delhi have seen 33 per cent year-on-year decrease, says panel

The percentage share of advances to the six religious minorities has also shrunk from 6.92 % in the quarter ending on December 31, 2019 to 6.73 % in the quarter ending on March 31, 20120.

Published: 19th July 2020 09:46 AM  |   Last Updated: 19th July 2020 09:46 AM   |  A+A-

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NEW DELHI:  The Delhi Minorities Commission has cited several problems being faced by minorities in getting loans from government institutions in Delhi and according to the panel, the loans to minorities have seen a sharp 33% yearon- year decrease.

The percentage share of advances to the six religious minorities has also shrunk from 6.92 % in the quarter ending on December 31, 2019 to 6.73 % in the quarter ending on March 31, 20120.

According to the last Census of 2011, the districts which have the highest concentration of minorities are the Central Delhi and North East Delhi.

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While in Central district, the percentage of advances to minority community in ‘Priority Sector’ increased from 6.92% to 9.52% but in North East district, it has decreased from 8.71 % to 7.11% during the quarter.

Priority Sector means sectors which the Government considers as important for the development of the basic needs of the country.

“Financial institutions charged with the responsibility of extending loans to minorities in NCT of Delhi, like Delhi Khadi & Village Industries Board and SC/ST/OBC/Minorities Finance & Development Corporation have miserably failed to discharge their duties properly,” the commission has said, in its annual report for the year 2019-2020.

The panel described as “pittance” the amount of loans being offered to minorities and said the procedure of procuring loans is made more difficult due to required conditions. “Two government employees are required to stand as guarantors for loans above `50,000. This should be relaxed.” The panel asked the Delhi government to probe the role and deficiencies of institutions which are failing in their duty to assist the minorities with loans.



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