Civil society sees foul play in Minorities Finance Corporation loans to Minorities

Hyderabad: Raising questions over the method adopted for processing applications of bank-linked subsidy scheme of Telangana State Minorities Finance Corporation (TSMFC), civil society groups have demanded fresh scrutiny of 1.8 lakh applications (2015-16). The groups alleged that several applicants lobbied through bankers, and that the authorities did not follow the guidelines.

The loans which are being extended for ‘self-employment’ of the weaker sections amongst the Minorities has failed to follow the guidelines provided under G O MS 101 (Social Welfare Department) for selecting the beneficiaries . As per the guidelines, welfare departments should conduct beneficiary identification camps at Mandal level and also at district level to prevent irregularities. But these norms were not followed.

The applications of the candidates who were able to get endorsement from the banks were given the priority, while other applications were kept in waiting list. “No camps were organised and the selection of beneficiaries was done randomly. This clearly shows the negligence of TSMFC and the district administration to implement the scheme as per the G O Ms 101,” said S Q Masood, Joint Secretary, Association for Socio-Economic Empowerment of the Marginalised (ASEEM).

It may be noted here that the TSMFC received about 1.8 applications for (2015-16). The target of applications was 8,000 and Rs 65 cr was distributed as loans. But the budget allocation was Rs 87.40 crores. “During the past three financial years, the government has only released half of the budget allocation for Minorities. It is ironical that for 2016-17, the Minority Finance Corporation received only Rs 67 crores, when the actual budget was Rs 138 crores. This means that the remaining two quarters would not be released as new financial year has already started,” said Syed Nisar Ahmed, founder president of organisation.