Telangana Finance Corporation to provide 5,000 minority families with loan amounting to Rs 1-2 Lakhs
Jul 20, 2022
Hyderabad (Telangana) [India], July 20 : The Telangana government has approved Rs 50 crore budget to execute the "Bank Linked Subsidy - Economic Support Scheme" for minorities.
Through this scheme, 5,000 families will be benefitted and they will be provided with a loan of Rs 100,000-2,00,000 depending on category. The Category-I of the bank-linked subsidy, worth Rs 1 lakh with an 80 per cent subsidy, and Category-II, worth Rs 2 lakh with a 70 per cent subsidy.
Telangana Minority Finance Corporation Mohammad Imtiyaz Ishaq said, "Recently Chief Minster KCR sanctioned a budget of Rs 50 crores for Minorities Finance Corporation. Under this amount, we have decided to give loans for 5,000 families under category-I of the bank-linked subsidy, which are worth Rs 1 lakh with an 80 per cent subsidy, and Category-II, which are worth Rs 2 lakh with a 70 per cent subsidy."
"We have divided loans in to two categories first one lakhs loans for 3,500 families and two lakhs loans for 1,500 families. The government moto is to help poor people and make them financially strong, apart from this government have launched many schemes for poor minority people like Shaadi Mubarak, Education loans, etc., like this Government of Telangana helping the poor minority people with schemes," he added.
"Now we are giving to 5,000 families and again we have planned to give 5,000 more families after a meeting with higher authority, we hope this will continue further and help more and more poor people by Telangana government," he stated.
Ibrahim, a beneficiary said, "I have received minority loan which helped me financially, I thank Telangana government and KCR sir for helping the poor minority people and now Telangana government have sanctioned 50 crores rupees for Minorities welfare schemes by which thousands of people will be benefited."
Zafar Ali, another beneficiary said, I thank KCR sir and Telangana government for giving loans for minority people in previous government no one cared about the minorities but after formation of Telangana KCR sir is helping poor minority people given us minority welfare schemes with this poor people are getting financial strong," he said.
