Date:12/06/2009 URL: http://www.thehindu.com/2009/06/12/stories/2009061253800400.htm

Kerala - Thiruvananthapuram

Matsyafed gets Rs.26-crore aid

Special Correspondent

To be disbursed as loans for the welfare of fisherfolk in the State

Assistance sanctioned by NMDFC
Matsyafed inks deal with NBCFDC

Thiruvananthapuram: The National Minorities Development Finance Corporation (NMDFC) has allocated Rs. 26.60 crore additional financial assistance to Kerala State Co-Operative Federation For Fisheries Development Ltd. (Matsyafed) for disbursement of loans to the fishing community during the fiscal 2009-10.

This include Rs. 16 crore assistance for disbursement among fishermen families to assist them in self-employment opportunities; Rs. 10 crore for micro-financing of self-help groups and another Rs. 60 lakh under the cluster development scheme for minorities.

Meeting

A decision to this effect was taken during the annual meeting of the NMDFC attended by all the channelising agencies in the country held in New Delhi late May.

P. Kesavan Nair, managing director and N. Ramdas, manager, Microfinance, represented Matsyafed at the meeting.

Funding

The funding will be utilised by Matsyafed to extend loans to fishermen at annual interest rates as low as 5-6 per cent.

The federation expects more than 10,000 fishermen families in the State to benefit from the scheme.

In addition to these, Matsyafed has also reached an understanding with the National Minorities and Backward Communities Finance Development Corporation (NBCFDC) for the disbursement of Rs. 10 crore as the first instalment of financial assistance in 2009-10 financial year.

Agreement

An agreement to this effect was inked in Delhi between A.A. Naqvi, managing director, NBCFDC, and Mr. Kesavan Nair. Out of this, Rs. 2 crore will be disbursed under micro-finance; Rs. 7 crore under the Mahila Samridhi Yojana Scheme and Rs. 1 crore for other means of self-employment.

The NBCFDC has also assured the Federation that more finance will be provided, on disbursement and utilisation of the allocated funds, Mr. Nair said.

SHGS

There exist 2,965 Self-Help Groups (SHGs) in the State with fishermen as members in the State now.

In addition, there are 8,259 SHGs in Kerala in which more than 1,00,431 women belonging to the fishing community are members.

These SHGs, totalling 10,972, have mobilised deposits to the tune of Rs. 17.24 crore and are utilising Rs. 25 crore as loans from Matsyafed under the micro-finance scheme.

Matsyafed registered a working profit of Rs. 51.43 crore during 2008-09.