About 

• National Minorities Development and Finance Corporation (NMDFC) is a Government Corporation under the Companies Act 2013, under the administrative control of Ministry of Minority Affairs. 
• The Corporation has been set up to promote Socio-Economic development of Backward Sections amongst the Minority Communities through the State Channelizing Agencies (SCAs) nominated by the respective State Governments / UT Administration and Canara Bank.
• Recently, Union Bank of India, Indian Bank & Punjab Gramin Bank have also signed MoU for implementation of NMDFC schemes on refinance mode.

Why in News?

• During F.Y. 2023-24, NMDFC released concessional credit to the tune of Rs. 765.45 crore covering over 1.84 lakh beneficiaries. 
• Further, since inception, NMDFC has disbursed more than Rs. 9,228.19 crore covering over 24.84 lakh beneficiaries out of which more than 85% beneficiaries are women.

https://pib.gov.in/PressReleasePage.aspx?PRID=2088530