Telangana: Minorities can avail loans with 80 percent subsidy

Telangana: Minorities can avail loans with 80 percent subsidy
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Karimnagar: The state government of Telangana will be sanctioning loans to Minorities and SCs, STs with 80 percent subsidy without bank linkage in May and June, Finance minister Etala Rajender said on Wednesday.

Rajender was speaking after laying the foundation stone for integrated hostel buildings at Ujwala park in Karimnagar when he made the announcement as per a report by DC. He added that the state will construct “Self-Respect Community Bhavans” for all communities at a cost of Rs 2 crore to Rs 5 crore each in five-acre land in Hyderabad this year.

This is for the first time that the state is giving subsidised loans to beneficiaries without bank linkage through the SC, ST, BC and Minority welfare departments. The development comes following allegations that bankers don’t give their consent through various departments to sanction such loans.