Maharashtra's Loan Disbursement for Minorities Faces Fund Delays

Maharashtra's Agriculture Minister Dattatray Bharane announced that loans for minorities through a state financial corporation face delays due to pending funds from the Centre. Despite approval for 3,707 proposals, disbursement awaits Rs 73.79 crore. Efforts are on to improve loan recovery and prioritize educational loans.

Maharashtra Agriculture Minister Dattatray Bharane revealed that the government's loan disbursement for minorities is stalled due to a delay in receiving funds from the Centre. Despite approving 3,707 loan proposals under a state financial development scheme, actual disbursement is pending as the corporation awaits Rs 73.79 crore.

The delay stems from the National Minorities Development and Finance Corporation's (NMDFC) pending transaction via the Union government. To address the funding gap, the state government increased its loan guarantee from Rs 30 crore to Rs 500 crore. Recovery efforts for earlier disbursed loans are also underway, including appointing recovery teams and lawyers.

Educational loans are given priority, with the Centre recently approving Rs 15 crore. Minister Bharane emphasized that funds would be allocated promptly to ensure beneficiaries, especially students, receive the loans without further delay, aligning with government's commitment to support the minority communities' financial needs.

(With inputs from agencies.)