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The Andhra Pradesh State Minorities Finance Corporation Limited has been incorporated under the Companies Act, 1956 in the year 1985.
The main objective is to assist the weaker sections of Minorities viz; Muslims, Sikhs, Buddhists, Parsis and Jains for their socio-economic development in collaboration with Banks and Corporation provides Subsidy and interest Subsidy.
The Source of funding for the corporate is from Government of Andhra Pradesh and National Minorities Development and Finance Corporation, New Delhi.
The National Minorities Development & Finance Corporation (NMDFC) was set up on 30th September 1994 and is functioning under the administrative control of the Ministry of Minority Affairs, Government of India, with an objective to promote the economic & developmental activities for the benefit of the “Backward Sections’ among the notified Minorities, preference being given to the occupational groups & women.
The NMDFC is a Public Sector Undertaking, registered under the Section 25 of the Companies Act 1956, as a “Company not for profit”.