New Delhi

The National Minorities Development and Finance Corporation (NMDFC), a government-owned entity that provides concessional finance to the members of religious minorities in India for education and launching businesses, has gone online.

Dr. Rakesh Sarwal, chairman cum managing Director of the NMDFC, launched Minority Loan Accounting Software for NMDFC (MILAN) that will enable applicants to seek land to manage their loans online. The software also helps the applicants calculate their EMIs and eligibility.

The NMDFC gives preference to artisans and Women in loans without bothering about formalities and paperwork generally associated with bank loans. So far the NMDFC has disbursed an amount of Rs. 7803.19 Crores to about 21 lacs beneficiaries.

The MILAN can be accessed at https://milan.disgenservices.in. Applicants can submit applications online on this portal.

Sarwal launched the MILAN in a webinar which was also attended by officials from banks viz. ICICI Bank, Canara Bank, and employees of NMDFC.

Sarwal said that this customized software will bring greater transparency and speed of transactions in the loaning and accounting process of NMDFC.

He said the software will empower and facilitate one to obtain loans from anywhere in India. By logging on to this, the applicants can also get the disbursement and repayment status.

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This software is responsive from both sides i.e. the beneficiary and the state channeling agencies.