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1.1 Objective / purpose of the public authority.
Main
Objects
The main objects to be pursued by the Company on
its incorporation are :
a)
To
promote economic and developmental activities for the benefit of
Backward Classes;
b) To
assist, subject to such income and/or economic criteria as may be
prescribed by the Government from time to time, individuals or
groups of individuals belonging to Backward Classes by way of
loans and advances for economically and financially viable schemes
and projects. Under Micro Financing Schemes, Self Help Groups
having members of target group to the extent of at least 75% could
be considered for financial support. The groups of the
individuals belonging to the backward classes will include such
groups in which predominantly (75% and above) members belong to
Backward Classes provided other members belong to weaker sections
(as per income and/or economic criteria prescribed by Government)
including Scheduled Castes/Scheduled Tribes, Minorities and
Disabled Persons;
c)
To
promote self-employment and other ventures for the benefit of
Backward Classes;
d)
To grant concessional finances in selected cases for persons belonging to
Backward Classes belong the poverty line in the country in
collaboration with Government Ministries/Departments at the
National and State level to the extent of the budgetary assistance
granted by the Government of India to the Company;
e)
To extend
loans to the Backward Classes for pursuing general/professional/technical education or training at graduate
and higher levels;
f)
To assist
in the upgradation of technical and entrepreneurial skills of
Backward Classes for proper and efficient management of production
units;
g) To
assist the State level organizations dealing with the development
of the Backward Classes by way of providing financial assistance
and in obtaining commercial funding or by way of refinancing.
h)
To work
as an apex institution for coordinating and monitoring the work of
all Corporations/Boards set-up by the State Government/Union
Territory Administrations for Scheduled Castes, Scheduled Tribes,
Backward Classes and Minorities in so far as it relates to the
economic development of the Backward Classes;
i)
To help
in furthering the Government policies and programmes for the
development of Backward Classes.
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