CM directs to make the schemes of Minorities Finance Corporation better

CM directs to make the schemes of Minorities Finance Corporation better

Hyderabad: It is reported that CM of Telangana State, Mr. K. Chandrashekhar Rao expressed his dissatisfaction on the review made by his Secretary in charge of Minority Affairs and Advisor to Govt. on Minority Affairs. He feels that the corporation has not been implementing the present schemes effectively. He instructed the officials to formulate strategies to make the schemes of the corporation more effective.

A meeting of the Public Sector Undertaking Committee of State Assembly was held in which the functioning of the Minorities Finance Corporation was reviewed. It was noticed that bank linked subsidy schemes have not been implemented for the past two years. The officials are engaged in disposing of the applications received during 2015-16. It is reported that the corporation received 1, 53, 906 applications for which a sum of Rs. 2670 crore is required. Govt. allocated Rs. 136.50 crore for this scheme. The corporation has released Rs. 68.99 crore for 8436 beneficiaries.

The officials of the corporation informed that in the first phase, the applications with two lakh subsidy are being disposed of so that maximum applicants could benefit out of it.

Govt. allocated Rs. 80000 subsidy under the new scheme whereas earlier, the subsidy used to be to the extent of 70%.

Chairman of Minorities Finance Corporation, Mr. Syed Akbar Husain told that Govt. allocated Rs. 136 crore for bank linked loan scheme. He further told that in order to associate poor Muslims with self-employment scheme, the corporation proposes to release loans directly to the beneficiaries. Poor Muslims would be made self-sufficient to transact their petty business under this scheme.

–Siasat News