Rajasthan Minority Finance and Development Co-operative Corporation Limited (RMFDCC) was incorporated on the 19th of April 2000 as a Cooperative Society under the Rajasthan Cooperative Society Act, 1965 and The Rajasthan Cooperative Societies Rules 1966, and started functioning from May 2000.
The Corporation has been set up to provide loan at Moderate interest rates for self employment and employment oriented educational courses with the object to promote economic and developmental activities for the benefit of weaker sections of the minorities.
The Muslims, Christians, Sikhs, Buddhists, Parsi and Jain (Granted Minority Status on 27/01/2014) have been notified as minorities by the Central Government under the National Minorities Commission Act, 1992. NMDFC, New Delhi Provides Loan to the extent of 90% of the Project Cost & the remaining 5% is borne by the RMFDCC and rest 5% by beneficiary as his contribution for all types of loan i.e. Term Loan, Education Loan and Micro Credit Loan.
The State Government has also provided a guarantee of Rs. 135 Crore in favour of RMFDCC to NMDFC. New Delhi against which NMDFC provides funds to RMFDCC for further disbursement to beneficiaries. RMFDCC acts as State Channelizing Agency of NMDFC, New Delhi and extends support for implementing their Schemes.