Hyderabad: Telangana State Minority Finance Corporation will issue bank-linked loan scheme to 5000 minority youth across the state. The Minority Welfare Department of Telangana has given nod to revive the scheme of the Minority Finance Corporation which has been stalled since the formation of Telangana.
President Telangana State Minority Finance Corporation Mr. Imtiaz Ishaq expressed his gratitude to Chief Minister K.Chandrasekhar Rao for approving the steps taken in connection with the bank-linked loan issuance scheme and said that the State Government’s Department of Minority Welfare has approved guidelines for the revival of this scheme.
He said that the state government approved the release of funds in two different categories for the economic development of minority youths and providing them with loans for business. It has paved the way for measures to provide subsidy to 5000 Muslim youths with the help of Rs. 50 crore.
Mr. Imtiaz said that after the approval of the scheme by the state government, the dates will be announced soon. He said that the youth of all 33 districts of Telangana will be made aware about the application and the scope of the scheme.
Chairman Telangana State Minority Finance Corporation said that apart from bank-linked loans, other schemes are being planned in the state for minorities, especially Muslims. According to the sources, the process of receiving applications for the bank-linked loan scheme will be started next week and steps will be taken to process the applications within 2 months.
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