Wasnik asks State agencies to utilise funds in more effective manner

NEW DELHI - Minister of State for Social Justice and Empowerment Mukul Wasnik on Tuesday called upon the State Governments to strengthen their State Channelising Agencies (SCAs) in all possible ways to ensure that the allocated funds are utilized in more effective manner.

Addressing the National Conference of the Managing Directors of State Channelizing Agencies of National Backward Classes Finance and Development Corporation (NBCFDC) here, Wasnik said: “it is a matter of concern that some States like Bihar, Madhya Pradesh, Orissa, Uttar Pradesh, Assam and Manipur are not taking enough steps for drawal of allocated funds.”

“Continuous default in repayment of loan installments by the SCAs of these States and non-availability of adequate Government Guarantee has created a situation where disbursement of loans by the apex corporations to these SCAs has become difficult,” he added.

Wasnik asked the participating Managing Directors of the State Channelizing Agencies to take effective measures to ensure that loans are repaid on time and also impress upon their respective State Governments to provide Government Guarantees so that poorer segment of the backward class are not deprived of concessional financial assistance available under NBCFDC schemes.

“”We must remember that the target group belongs to one of the most vulnerable sections of the society and therefore it is our duty to ensure that all possible help reach these sections in most effective manner,” he emphasized.

Wasnik further said that efforts should be made not only to provide finances at concessional rate of interest but also to assist the beneficiaries in skill upgradation and providing access to modern technology.

“The training would enable them to find self-employment opportunities and also get gainful employment in new and emerging areas such as information technology etc,” he added condemning the NBCFDC for initiating the scheme to provide soft loans for pursuing higher education at the graduate and post-graduate levels in the field of medicine, engineering, information technology etc. (ANI)