More share capital to NMDFC to help backward minorities

New Delhi, Nov 8 (UNI) The Union Cabinet today approved enhancement of the authorised share capital of the National Minorities Development and Finance Corporation (NMDFC) from Rs 650 crore to Rs 750 crore, to promote the economic development of the 'backward sections' among the minorities.

''The target group comprises those persons among the minorities who are below double the poverty line,'' Finance Minister P Chidambaram told reporters after the Cabinet meeting.

The enhanced share capital to the Corporation will enable it to be more effective in helping the target group, he said.

UNI