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Guidelines not issued for bank-linked, loan-cum-subsidy scheme

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Hyderabad: The government has not issued any guidelines regarding bank-linked, loan-cum-subsidy scheme of Minority Finance Corporation. 3 months have passed since the applications were invited by the corporation but the corporation has not begun processing of applications as a result, thousands of applicants are in dilemma.

Government had announced a subsidy of Rs. 10 lakh per head under the new scheme. 1.60 lakh applications have been submitted but now the Corporation is unable to decide how to process such a huge number of applications.

On the other side the Corporation has set a target to provide loan to 8300 candidates thus around 1.50 lakh applicants may be deprived of subsidy.

Siasat news

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