The Telangana State Minority Finance Corporation (TSMFC) is having trouble providing subsidies and schemes for minorities due to a lack of government funds. Applicants who tried to get money from the government were turned away by the bank because there wasn’t enough money in the government’s account.
TSMFC is supposed to help minorities with their socio-economic progress, but it has been ineffective since the state was formed. Minorities are having a hard time getting loans from the government.
The schemes offered by TSMFC include subsidy loans, education, scholarship reimbursement, self-employment loan schemes, and driver empowerment. People who want to start small businesses are looking to TSMFC for help, but they don’t have much hope of getting loans from the government.
The previous government had announced a loan program for Muslims to help them start small businesses. Many Muslims applied for the loan, but when they received their cheques, they found out there wasn’t enough money in the government’s account.
Activist Mohammed Ahmed accused the previous government of playing a scam on minorities by giving them worthless cheques. He called on the current government to release the money so that applicants can use it for their businesses.
There are also minorities who have applied for the driver empowerment scheme but are still waiting for approval.
A political analyst named Mohammed Asif Hussain Sohail said that there used to be 21 schemes for minorities before the state was divided, but now there are only three schemes. He called on the Congress government to revive the finance corporation and allocate more funds for minorities.
Other programs like Shaadi Mubarak cheques, overseas scholarships, and honorariums for religious leaders have also been affected. The government needs to release the money that has been pending for months.
The Minority Finance Corporation has been without a leader for years, even under the previous government. No new chairman has been appointed to oversee minority welfare.
BRS senior leader Shaik Abdullah Sohail demanded that the government fulfill promises made to minorities, including providing subsidized loans and special benefits for religious leaders. He also called on the Congress to allocate more funds for minorities in the upcoming budget.
Sohail urged the passing of a bill to introduce a plan for minorities in the upcoming budget session of the Telangana Legislature.
