TSMFC receives over 2 lakh applications for financial assistance

Having received a whopping 2.16 lakh applications for financial assistance from the aspirants, the TSMFC has started the verification exercise.

Hyderabad: Having received a whopping 2.16 lakh applications for financial assistance from the aspirants, the Telangana State Minorities Finance Corporation (TSMFC) has started the verification exercise.

Teams comprising the local minority welfare officers assisted by the revenue authorities would conduct the verification of the applications and then send a list of the selected beneficiaries to the TSMFC. “After receiving the list of the beneficiaries we will transfer the amounts to their account. Our target is to complete the exercise by February end,” said TSMFC chairman, Imtiyaz Ishaq.

The State government had released a budget of Rs. 120 crores and the scheme has two categories, Category 1 – Rs 1 lakh loan and Category 2 – Rs. 2 lakh loan, with the subsidy component in first category being 80 per cent and for second category, it being 70 per cent.