TSMFC ready to launch subsidized loans for minorities

Hyderabad: As the first phase of 100 per cent subsidy scheme for minorities turned out to be successful, the State government is gearing up to roll out the second phase of the scheme. According to officials of the Minority Welfare Department, the Telangana Minority Finance Corporation is taking steps to provide Rs 1 lakh to each of the 14,300 applicants. The government has already allocated Rs 153 crore for the second phase and directed District Collectors and District Minority Welfare officers to ensure proper implementation of the scheme. In the first phase, the government released Rs 100 crore, distributing cheques of Rs 1 lakh each to 10,000 minority beneficiaries on August 19. It is also providing subsidies to about 120 eligible persons belonging to minority communities from each assembly constituency. Imtiaz Ishaq, the chairman of the Minority Finance Corporation, said that a comprehensive plan is in place for the release of the second phase aid funds in September. Once, the funds are received from the government, the relief amount will be swiftly disbursed to thebeneficiaries, with all necessary preparations already in place.