Telangana Minority 1 Lakh Scheme Apply Online & Application Form | Telangana Minority 1 Lakh Scheme Check Amount & Last Date | Telangana Minority 1 Lakh Scheme Check Features & Benefits | Telangana Minority 1 Lakh Scheme Check Guidelines & Age Limit | Telangana Minority 1 Lakh Scheme Check Eligibility & All Details |
Now the residents of Telangana state will be able to avail of the loans for any purpose in order to carry out the expenses. For this, they will need to apply online for Telangana Minority 1 Lakh Scheme. This scheme will provide loan benefits to applicants belonging to minority communities. Subsidies will be provided or awarded to the applicants on the basis of loan amounts that they are borrowing from the lending institution.
Through this article, we will provide you with all types of information about the Telangana Minority 1 Lakh Scheme 2023 like purpose, Eligibility Criteria, Benefits, Features, important documents, etc. Apart from this, we will share with you the process to apply online for this scheme. To get complete information about this scheme, read this article till the end.
Telangana Minority 1 Lakh Scheme
The State Government of Telangana has launched the Telangana Minority 1 Lakh Scheme so that the government will be able to provide some sort of help and support to applicants belonging to minority communities. Applicants will be able to avail loan amounts ranging from Rs. 1 lakhs to Rs. 2 lakhs. Subsidy of 70% to 80% will be provided to the applicants whenever they will borrow loans for any kind of work.
Now undertaking loan amounts is not so tough for the residents of Telangana because Telangana Minority 1 Lakh Scheme has been launched recently for the Telangana state so that the residents living in this state will be able to avail loan amounts as per their choice for which they will need to undertake loan. The applicants will also be advised to apply online before the last date in order to secure timely registration.
Highlights Of Telangana Minority 1 Lakh Scheme
The highlights of this scheme are as follows:-
| Name Of The Scheme | Telangana Minority 1 Lakh Scheme |
| Launched By | Telangana State Minorities Finance Corporation (TSMFC) |
| Delegated State | Telangana |
| Launching Date | 23rd July 2023 |
| Delegated Ministry | Ministry of Electronics & Information Technology |
| Allocated Portal | Will be updated soon |
| Objective | To provide loans to the new entrepreneurs |
| Benefit | The applicants will be able to start their own businesses |
| Applicable To | Citizens of Telangana |
| Beneficiaries | Minority Communities |
| Age Limit | 21 to 55 Years |
| Annual Income Limit | Rs. 1.50 to Rs. 2 Lakhs |
| Loan Amount | Rs. 1 Lakh to Rs. 2 Lakhs |
| Rate of Interest | 6% to 7% |
| Form of Benefit | Facilitation of Subsidies on Borrowing Loans |
| Subsidy %age | 70% to 80% |
| Hosting Site | National Information Center (NIC) |
| Mode Of Application | Online |
| Last Date of Online Form Submission | Will be updated soon |
| Email ID | [email protected] |
| Official Website | www.tsobmms.cgg.gov.in |
Objectives Of Telangana Minority 1 Lakh Scheme
The major objective of the Telangana Minority 1 Lakh Scheme is to support individuals from minority communities who wish to start their own businesses by offering financial assistance in the form of subsidized loans. With the help of subsidized rates of loan amounts, the applicants will not hesitate to borrow the loan because borrowing loans sometimes offer higher rates of interest depending on the amount of loan that has been to be undertaken.
Another objective of launching the Telangana Minority 1 Lakh Scheme is to provide financial assistance to the minority communities in Telangana. The scheme aims to uplift and empower the minority sections of society by extending monetary aid to their businesses or entrepreneurial ventures. The government intends to provide loans up to Rs. 1 lakh, making it easier for individuals from minority communities to start their own small-scale enterprises.
Telangana Minority 1 Lakh Scheme Beneficiary Category
It is also on the basis of the beneficiary category that the government or selection body will be able to shortlist the names of eligible beneficiaries for providing the benefit of this scheme. The applicants will need to possess the beneficiary category. The benefit of this scheme will be provided to the minority communities living or residing in the Telangana state.
Age Limit
The applicable age limit are as follows:-
| Minimum Age Limit | 21 Years |
| Maximum Age Limit | 55 Years |
Annual Income Limit
It is also on the basis of the annual income limit that the names of eligible beneficiaries will be shortlisted for awarding the benefit of this scheme. The applicants will also need to possess the prescribed annual income limit. The annual income limit of the eligible beneficiary must be Rs. 1,50,000/-. for rural areas. For urban areas, the annual income limit must not exceed to Rs. 2,00,000/-.
Telangana Minority 1 Lakh Scheme Loan Amounts
The loan amounts that can be borrowed by the applicants are as follows:-
| Minimum Loan Amount | Rs. 1 Lakh |
| Maximum Loan Amount | Rs. 2 Lakhs |
Applicable Subsidy %age
The subsidy %age that will be applicable on the rate of loan are as follows:-
| Loan Amount | Subsidy %age |
| Rs. 1 Lakh | 80% |
| Rs. 2 Lakhs | 70% |
Applicable Interest Rates
The rate of interest applicable on the amount of the loan are as follows:-
| Loan Amount | Interest Rate (Per Annum) |
| Rs. 1 Lakh | 6% |
| Rs. 2 Lakhs | 7% |
Total No. of Applicants
It is only on the basis of the total no. of applicants that the government or selection body will start shortlisting the names of eligible beneficiaries for awarding the benefit of this scheme. A total of 1.50 lakhs of eligible beneficiaries will be able to get the benefit of this scheme which means the total no. of applicants who will be given selection will be 1,50,000/-.
Telangana Minority 1 Lakh Scheme Last Date
It is obvious that the applicants will be able to get the registration after applying online under this scheme. For this, they will also need to get to know the last date by which they can get registration. The last date for online form submission has not yet been released by the selection body. Whenever it will get released, we will update you through this article till then you can wait for a moment.
Important Guidelines
Some of the important guidelines issued for the applicants are as follows:-
- The Telangana State Minorities Finance Corporation (TSMFC) is responsible for handling pending applications for 100% direct subsidies of Rs 1 lakh for qualified beneficiaries.
- New applications from Christians requesting financial help of Rs 1 lakh direct subsidy should be submitted.
- Only one family member will receive the grant.
- The selection process will be carried out by the District Level Monitoring Committee/District Level Screening Committee, chaired by the District Collector.
- The District Collector must obtain the consent of the District Incharge Minister for this scheme.
- The TSMFC website will provide the selection list in phases.
- The subsidy will be given as a one-time grant.
- The managing director of Telangana State Christian (Minorities) Finance Corporation and the vice chairman and managing director of TSMFC will take necessary actions.
- The Management and Monitoring System for online beneficiaries must include all the mentioned eligibility requirements according to the Centre for Good Governance.
Stimulating Economic Activity
Subsidized loans make it cheaper for businesses to borrow money, which encourages them to invest in growing their businesses, buying new equipment, and creating new products. This leads to more job opportunities, increases consumer spending, and helps the economy grow overall which will also stimulate economic activity.
Promoting Entrepreneurship
Entrepreneurs are important because they come up with new ideas and create jobs. However, it can be hard for them to get money to start their businesses. Subsidized loans make it easier for entrepreneurs to get the money they need, which helps them focus on building and growing their businesses. This leads to more innovation and economic growth.
Benefits Of Telangana Minority 1 Lakh Scheme
The benefits of this scheme are as follows:-
- The government will be able to provide the required help and support to the minority communities.
- This will expand the entrepreneurial opportunities among loan amount borrowers.
- The minimum rate of interest will need to be paid out by the applicant.
- The borrowers will not have to suffer from the financial issues.
- One can apply online before the last date for getting timely registration.
- This will also stimulate economic activity.
Features Of Telangana Minority 1 Lakh Scheme
The features of this scheme are as follows:-
- The Chief Minister of Telangana Chandrasekhar Rao has launched the Telangana Minority 1 Lakh Scheme.
- This scheme will provide benefits to the residents of Telangana state.
- Only minority communities will be given benefits.
- One can borrow loan amounts ranging from Rs. 1 lakh to Rs. 2 lakhs with the help of subsidy amounts.
- Only a 6 to 7% rate of interest will be applicable on the borrowed loan amount.
- The annual income limit will serve as a primary selection parameter.
Telangana Minority 1 Lakh Scheme Eligibility Criteria
The applicants will need to possess the below-mentioned eligibility criteria for getting timely registration:-
- The applicant must be a resident of Telangana state.
- The applicant must be a minority community candidate.
- The age limit must be from 21 to 55 years.
- He or she must want to undertake a loan for a business start-up.
- The annual income limit for rural areas will be Rs. 1.50 lakhs and for urban areas, it will be Rs. 2 lakhs.
Important Documents
Some of the important documents required to apply for this scheme are as follows:-
- Aadhar card
- PAN card
- Handicapped Certificate (If Any)
- Age Certificate
- Resident Certificate
- Annual Income Certificate
- Passport-size Photos
- Mobile Number
- Caste Certificate
Telangana Minority 1 Lakh Scheme Apply Online
As this scheme has recently launched no such information has been released with the help of various social networking sites regarding the application procedure to apply online for the Telangana Minority 1 Lakh Scheme. Whenever the application procedure will be launched, we will update you through this article otherwise, the applicant can visit the Official Website.
To Do Login
The applicants will need to follow the below-mentioned points to do Login:-
- Visit and open the Official Website.
- On the homepage, click on the Login button.
- The login form will get displayed on your screen.
- Fill out the form.
- Then click on the Login button.
Contact Information
In case you are having any doubts or queries regarding the Telangana Minority 1 Lakh Scheme, then you may contact this mentioned email ID:- [email protected].