The lethargy of banks in providing loans to Minorities is a well known fact but the functioning of Minorities Finance Corporation is also not up to the mark. A sum of Rs. 100 crore was allocated for loans to Minorities but only 5.34% of it has been spent so far. During the current financial year only Rs. 32.90 crore were sanctioned to 1942 candidates. So far only Rs. 4.71 crore has been utilized by the candidates. Bankers’ Committee feels that only 29% applications have been sponsored. MD of Finance Corporation has been requested to pay attention to finalize loan applications as early as possible.
–Siasat News