TAMCO disburses ₹6.72 crore to support minority communities in Coimbatore

The Tamil Nadu Minorities Economic Development Corporation (TAMCO) has provided loans totalling ₹6.72 crore over the last three-and-a-half years in Coimbatore district to help economically disadvantaged minority communities start and expand self-employment ventures.

According to the district administration, under its individual loan scheme, TAMCO disbursed ₹4.70 crore to 481 beneficiaries. The loans have been used to establish or expand small businesses such as vegetable shops, tailoring units, and footwear shops. In addition, ₹2.02 crore in group loans was distributed to 205 beneficiaries through the self-help group (SHG) scheme, which supports collective businesses such as seafood retailing, handicrafts, and eatery outlets.

In the financial year 2022-23, individual loans amounting to ₹1.76 crore were disbursed to 165 beneficiaries, while ₹1.04 crore was distributed as group loans to 98 beneficiaries. In 2023-24, ₹1.05 crore in individual loans was given to 128 beneficiaries, and group loans worth ₹97.50 lakh were disbursed to 107 beneficiaries. In 2024-25, individual loans totaling ₹1.88 crore were distributed to 188 beneficiaries.

Apart from the loan schemes, TAMCO has facilitated other forms of financial assistance. Through the Coimbatore District Muslim Women’s Welfare Association, ₹94.20 lakh was distributed to 942 beneficiaries over three years. In 2022-23, ₹32.80 lakh was given to 328 women. This increased to ₹41.80 lakh for 418 women in 2023-24, while ₹19.60 lakh was provided to 196 women in 2024-25.

Subsidies were also extended to 116 Ulema to purchase two-wheelers, amounting to ₹41.50 lakh. Similarly, through the Coimbatore District Christian Women’s Welfare Association, financial assistance worth ₹62.29 lakh was provided to 705 beneficiaries.

Under the rural women’s education scholarship scheme, TAMCO awarded ₹8.33 lakh in scholarships to 1,241 students.

Published - November 23, 2024 06:44 pm IST