Telangana govt permits Rs 50 cr to bank-linked minority subsidy

Hyderabad: The Telangana government for the fiscal year 2022-23, has approved Rs 50 crore to execute the “Bank Linked Subsidy – Economic Support Scheme” for minorities by soliciting new applications using the Online Beneficiary Management & Monitoring System (OBMMS) web platform.

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According to the chairman of the state minority finance corporation, Mohd Imtiyaz Ishaq, eligible minorities can apply through the OBMMS web portal for loans under category-I of the bank-linked subsidy, which are worth Rs 1 lakh with an 80% subsidy, and Category-II, which are worth Rs 2 lakh with a 70% subsidy.

He also thanked chief minister K Chandrashekar Rao for approving Rs 50 crore to execute the bank-linked subsidy for the state’s underprivileged minority.

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According to media reports, all of the rules and the timeline will be completed before applications are announced. The prior years’ applications will all be closed. More than 1.5 lakh applications have been waiting for the previous four years.

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