Centre to increase share capital in NMDFC
In yet another move to woo the minorities, the Centre on Thursday decided to enhance the share capital in the National Minorities Development and Finance Corporation by Rs 100 crore.
By PTI |
NEW DELHI: In yet another move to woo the minorities, the Centre on Thursday decided to enhance the share capital in the National Minorities Development and Finance Corporation (NMDFC) by Rs 100 crore.
A meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh gave its approval for enhancement of the authorised share capital of the Corporation from Rs 650 crore to Rs 750 crore.
The enhanced share capital would enable the Corporation to be more effective in helping the target groups, Finance Minister P Chidambaram told reporters here.
The enhancement of the share holding pattern of the Corporation fulfils the commitment made in his budget speech of 2007-08, he said, adding that an Experts Committee has been constituted to evaluate the performance of the Corporation. The report of the Committee was being examined by the government, he said.
A meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh gave its approval for enhancement of the authorised share capital of the Corporation from Rs 650 crore to Rs 750 crore.
The enhanced share capital would enable the Corporation to be more effective in helping the target groups, Finance Minister P Chidambaram told reporters here.
The enhancement of the share holding pattern of the Corporation fulfils the commitment made in his budget speech of 2007-08, he said, adding that an Experts Committee has been constituted to evaluate the performance of the Corporation. The report of the Committee was being examined by the government, he said.
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