The Andhra Pradesh State Minorities Finance Corporation was incorporated to assist the weaker sections of Minorities viz; Muslims, Christians, Sikhs, Buddhists and Parsis for their socio-economic development by providing margin money loans and Direct loans with the assistance of Govt. of A.P. and N.M.D.F.C for setting up of businesses, Industrial, Service, Agricultural and allied viable activities and Grant-in-Aid for Welfare Scheme. In this connection Andhra Pradesh Minority Finance Corporation has invited applications from unemployed youth from across the state which can be submitted online.
But the conditions stipulated by state minority welfare department are like making fun of poor minorities. At the first place the youth has to make rounds of revenue officer’s office to obtain income certificate. The youth who is already unemployed; can he bear the expenditure of making rounds of MRO office? If he has the capacity then also he has to run from pillar to post for weeks to obtain the certificate.
One has to possess 10 percent amount to obtain loan. How can a poor unemployed person manage to collect 10 percent of the loan amount? The MFC asks the beneficiaries to prepare the bank to give loan and then MFC will give the subsidy amount. But sadly no bank readily agrees to give the loan more so in case of Muslim applicant. This is the sad story of unemployed minority youth.
In this scenario Managing Director Minority Finance Corporation, Mr. Ilyas Razvi should give suggestions to the government to simplify the process so that the unemployed minority youth can truly benefit from the scheme.
Siasat report