UPSC Exam  >  UPSC Questions  >  What was the main objective of setting up the... Start Learning for Free
What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?
  • a)
    To promote the development of religious minorities
  • b)
    To alleviate the lot of 14% of India's population belonging to minorities
  • c)
    To provide financial aid to minority educational institutions
  • d)
    To establish a separate ministry for minority affairs
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What was the main objective of setting up the National Minorities Deve...
The main objective of setting up the National Minorities Development and Finance Corporation (NMDFC) was to alleviate the lot of 14% of India's population belonging to minorities. The NMDFC aims to promote economic and developmental activities for the benefit of backward sections among minorities, provide loans and advances for financially viable schemes, and promote self-employment and other ventures for the benefit of minorities.
Free Test
Community Answer
What was the main objective of setting up the National Minorities Deve...
Objective of NMDFC
The National Minorities Development and Finance Corporation (NMDFC) was established with a specific mandate aimed at improving the socio-economic conditions of minority communities in India.
Main Objective
- The primary goal of NMDFC is to alleviate the lot of 14% of India's population belonging to minorities. This encompasses a range of communities that have historically faced economic and social challenges.
Key Functions
- Financial Assistance: NMDFC provides financial support in the form of loans and subsidies to promote self-employment and entrepreneurship among minority groups.
- Skill Development: The corporation focuses on enhancing skills and capacities through various training programs, thereby empowering individuals within minority communities to seek better employment opportunities.
- Social Development Initiatives: NMDFC also engages in initiatives that improve the overall social well-being of minorities, such as promoting education and healthcare access.
Impact on Minority Communities
- Economic Empowerment: By facilitating access to credit and resources, NMDFC plays a crucial role in uplifting the economic status of minorities.
- Employment Generation: The focus on entrepreneurship and skill development leads to job creation, thereby reducing unemployment rates among these communities.
- Inclusive Growth: NMDFC's efforts contribute to the broader goal of inclusive growth in India, ensuring that the benefits of development reach all sections of society, particularly marginalized groups.
In summary, the establishment of the NMDFC is fundamentally about addressing the socio-economic disparities faced by minority communities, making option 'B' the correct answer.
Explore Courses for UPSC exam

Top Courses for UPSC

What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer?
Question Description
What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer?.
Solutions for What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice What was the main objective of setting up the National Minorities Development and Finance Corporation (NMDFC)?a)To promote the development of religious minoritiesb)To alleviate the lot of 14% of Indias population belonging to minoritiesc)To provide financial aid to minority educational institutionsd)To establish a separate ministry for minority affairsCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev