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Lakhs of applicants awaiting loans
Lakhs of people are waiting for loans from Minority Corporations with stringent regulations put in place by the State government. It may be recalled here that the State and Central governments have announced various welfare schemes for the empowerment of SCs, STs, BCs, and Muslim and Christian communities.
Ongole: Lakhs of people are waiting for loans from Minority Corporations with stringent regulations put in place by the State government. It may be recalled here that the State and Central governments have announced various welfare schemes for the empowerment of SCs, STs, BCs, and Muslim and Christian communities.
The corporations would select the beneficiaries, after thoroughly scrutinising their applications, educational qualifications and viability of the project. Once the banks issue loans to the beneficiaries, the corporations ensure that the beneficiaries ground these projects and conduct periodical inspections.
Based on the data available with the CM Office Real-Time Executive Dashboard on Tuesday evening, for the financial year 2015-16, the SC Corporation aimed at grounding 75,702 units at a cost of Rs 46,778.04 lakh, but it failed to meet its target. The ST Corporation aimed at grounding 14,170 units at a cost of Rs 8,595.44 lakh, but it too had failed to meet its target.
The BC Corporation, aimed at grounding 69,176 units at a cost of Rs 6,951 lakh, but could ground only 1,730 units at a cost of Rs 537 lakh. The BC Corporation distributed an average of Rs 0.31 lakh for each beneficiary. Similarly, AP State Minorities Finance Corporation could ground only 1,832 units at a cost of Rs 686 lakh against the target of 22,287 units at a cost of Rs 4,800 lakh.
The Christian Minorities Finance Corporation could ground only 212 units at a cost of Rs 159 lakh against the target of 2,400 units at a cost of Rs 1,200 lakh. The Kapu Corporation, which was established in 2016, grounded only 908 units at a cost of Rs 615 lakh against the target of 32,000 units at a cost of Rs 9,600 lakh.
In Prakasam district, the Minorities Finance Corporations had set a target of grounding 12,563 units. More than 50,000 applications have applied for these 12,563 units before August 2015. Since then, the applicants are making rounds of the offices of the MDOs and Municipal Commissioners seeking issuance of identification forms, which are to be submitted to the corporations for issuance of approval certificates.
These approval certificates should in turn be submitted to the banks for release of loans. According to sources, the SC Corporation aimed at grounding 3,331 units, BC Corporation-3,759 units, Minority Corporation-1,366 units, Kapu Corporation-2,955 units, ST Corporation-560 units in the district, but the total number of applicants who received the identification forms from the MDOs and Municipal Commissioners is very low.
