The Telangana government is planning to provide financial assistance of Rs 1 lakh to members of minority communities. This announcement was made by Finance Minister T. Harish Rao on Thursday.
The scheme is aimed at helping minority families who are struggling to make ends meet. It will be open to all minority communities, including Muslims, Christians, Sikhs, Jains, and Parsis.
To be eligible for the scheme, families must have an annual income of less than Rs 2 lakh. They must also be able to provide proof of their minority status.
The financial assistance will be provided in the form of a loan. The government will provide an 80% subsidy on the loan, which means that the families will only have to repay 20% of the loan amount.
The loan can be used for any purpose, such as starting a business, renovating a house, or paying for education.
The government has not yet announced the application process for the scheme. However, it is expected to be launched soon.
This is a welcome move by the Telangana government. It will help to improve the lives of minority families and give them a better chance of success.
How to apply for the Rs 1 lakh assistance scheme for minority families in Telangana
The application process for the Rs 1 lakh assistance scheme for minority families in Telangana is now open. To apply, you will need to:
- Visit the website of the Telangana State Minorities Finance Corporation (TSMFC).
- Click on the “Apply for Loan” tab.
- Fill out the online application form.
- Attach the required documents.
- Submit the application form.
The required documents include:
- A copy of your Aadhaar card
- A copy of your ration card
- A copy of your income certificate
- A copy of your bank account statement
The TSMFC will review your application and, if approved, you will be issued a loan of Rs 1 lakh. The loan will be disbursed in two instalments, with the first instalment of Rs 50,000 being released immediately and the second instalment of Rs 50,000 being released after six months.
The interest rate on the loan is 6% per annum. The loan repayment period is 5 years.
To repay the loan, you will need to make monthly instalments of Rs 2,000. You can repay the loan through any bank branch in Telangana.
For more information about the scheme, you can contact the TSMFC on 040-23302090 or 040-23302091.