Maharashtra JMFDC Approves 7 Jain Student Hostels & Interest-Free Loans For Women Entrepreneurs

Mumbai: The Board of Directors of the Jain Minority Development Finance Corporation (JMDFC), Government of Maharashtra, has approved the establishment of seven hostels for Jain students across the state and an interest-free loan scheme for women entrepreneurs.

The decisions were taken at the Corporation’s fourth Board meeting chaired by Lalit Gandhi in Mumbai on Friday. The proposed hostels will be set up in Mumbai, Pune, Navi Mumbai, Nashik, Nagpur, Chhatrapati Sambhajinagar and Kolhapur to improve access to higher education for Jain students.

The Board approved implementation of an interest-free loan scheme ranging from ₹10,000 to ₹1 lakh for women to promote cottage industries and self-employment. Applications are expected within the next fortnight.

It also cleared a revised framework for loan and interest subsidy schemes, the Vihardham Development Scheme, the Pathshala Modernisation and Empowerment Scheme, and a time-bound action plan for a Marathi Jain Literature Encyclopaedia.

Gandhi said the Corporation will launch an outreach campaign with the state skill development and industries departments to improve opportunities for Jain youth through skill training, the Chief Minister Employment Generation Programme (CMEGP), entrepreneurship schemes, and initiatives for women's selfhelp groups with the women and child development department. The Board reviewed progress of financial assistance from the NMDFC.

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