Minority Finance Corporation is mulling over providing loans to minority students for abroad studies. The guidelines regarding issue of loans will be finalized after consultation with officials of Social Welfare Department.
After his return from the meeting of National Minorities Development and Finance Corporation in Bangalore, Managing director minority Finance Corporation Mohammed Hashim Shareef disclosed the proposal for this scheme. He told that in the meeting, minority institutions in various states were urged to launch schemes to issue direct loans to minorities and to obtain the amount from National Minorities Developmental and Finance Corporation.
Since the recovery of the loan after its release is a challenging part for the corporation, the scheme has not been launched yet and the minority candidates are provided bank linked subsidy of Rs. 30000.
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