Date: February 11, 2015
NMDFC minority community in India Paid-up capital
Hike in authorised share capital of National-Minorities-Development-and-Finance-Corporation (NMDFC)
The Union Cabinet has approbed to increase the Authorised Share Capital of the National Minorities Development and Finance Corporation (NMDFC), from Rs. 1500 crore to Rs. 3000 crore.
The share holding pattern is also ammended, Previously the Centre, States/Union Territories and Individuals/Institutions share it in the ratio of 65:26:9 respectively which is now to 73:26:1 rspectively.The cabinet also approved restructuring of business model of NMFDC.
National Minorities Development and Finance Corporation (NMDFC):- It is Central Sector Public Enterprise (CPSE) under the aegis of Union Ministry of Minority Affairs,constituted in 1994 as a non-profit making company under Section 25 of the Companies Act, 1956.
The NMDFC basically provides loans at concessional interest rates to backward sections of minority communities having family income up to Rs. 1,03,000 in urban areas and Rs. 81,000 in rural areas for self-employment and economic development activities purposes.There are six communities which are considered as minority community in India. These are Muslims, Christians, Sikhs, Buddhists, Jains and Parsis.
Authorised Share Capital- It is the maximum amount of capital which a company can raise through sale of its shares.
Paid-up capital- It is the amount of capital that it actually issues and has received payment for from the sale of its shares.
Paid-up capital can be less than or equal to a company's authorised capital, but never more than it.