Hyderabad: The Telangana Minority Finance Corporation (TSMFC) is set to initiate the process of issuing sanctioned applications during the current week, according to the Chairman of Minority Finance Corporation, Ishaq Imtiaz.
He stated that the release of the budget from the government has been expedited, and an estimated amount of Rs 100 crore is expected to be released within two days. These funds will then be transferred to the accounts of the beneficiaries after the necessary formalities.
Expressing his gratitude to the government and Finance Minister Harish Rao, Ishaq Imtiaz lauded the plan to benefit minorities through the launch of the 100% subsidy scheme. In response to the representation from the government, the decision was taken to convert the bank-linked loan scheme into a scheme providing 100% subsidy. This transformation will render the amount received by the beneficiaries as non-refundable, making it a significant boost for the minority communities.
The Chairman of the corporation mentioned that since the Finance Minister’s announcement and the release of the latest Government Order (GO), numerous beneficiaries have inquired about the status of their applications. He further revealed that the release of the budget from the Finance Department is currently underway, and once completed, the funds will be promptly transferred to the respective applicants’ accounts.
Ishaq Imtiaz also highlighted that the Minority Welfare Department has provided clear instructions to the Corporation to expedite the resolution of 10,000 applications approved in the ongoing scheme, which involves bank-linked loans and immediate allocation to beneficiaries.
With the implementation of the 100% subsidy scheme, the Telangana Minority Finance Corporation aims to provide substantial support to the minority communities, promoting socio-economic development and empowerment among the marginalized sections of society.
