MFC seeks govt. permission to implement bank-linked subsidy scheme

Minority Finance Corporation has sought permission from the government with regard to implementation of bank-linked subsidy scheme. Managing Director Minority Finance Corporation Prof. S A Shukoor has sought permission from Telangana and Andhra Pradesh government to release subsidy on sanctioned applications.

The scheme was put on hold in the wake of state bifurcation. The Corporation has Rs. 10 crore with it to release subsidy to the sanctioned applications. If governments give permission it will transfer the amount of the subsidy to the bank accounts of the approved applicants. It is likely that both the governments will sanction the proposal within one week.

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