The erstwhile AP State Minorities Finance Corporation, Hyderabad was set up in the year 1985 with 23 District Minority branch offices in the undivided State of Telangana. Pursuant to the Andhra Pradesh Reorganization Act, 2014, APSMFC has been bifurcated into two entities and TSMFC has been created for the State of Telangana with 10 District Minority branch offices w.e.f. 02-06-2014. The Government of Telangana have issued G.O.Ms.No.10 Minorities Welfare (OP & BUD) Department, dated 15-12-2014 creating a new Telangana State Minorities Finance Corporation (TSMFC) to extend financial assistance to the weaker sections of Minorities viz; Muslims, Sikhs, Buddhists, Parsis and Jains. The Government of Telangana have created 21 new Districts from out of (10) erstwhile Districts and that the total (31) Districts were came functioning w.e.f. 11.10.2016 in the State of Telangana and another two Districts have been created by the Government w.e.f. 17.2.2019 and totally ( 33 ) districts in the State of Telangana The State of Telangana is having 50,05,502 Minority population (14.24%) out of total population of 3,51,45,632 a per 2011 census. The main objective of the Corporation is to provide financial assistance for creation of income generating assets, Vocational Training and Employment to the poor Minority households for their social and economic development through the following schemes:
GRANT – IN - AID
- Economic Support Scheme
- Subsidy with Bank Linkage for Income Generated units
- Autos under Own Your Auto Scheme
- Cabs under Driver Empowerment Program
- Placement oriented training programs for skill development and skill
for educated & unemployment youth for getting gainful employment.
- Vocational Training in Urdu Computer Education
AIMS & OBJECTIVES
- To aid, assist, encourage, develop, extend and render financial assistance by way of subsidy
with bank linkage to the eligible unemployed and needy members of Minority Communities.
- Empowerment of women .
- To assist in upgradation of technical and entrepreneurial skills of Minorities for proper and
efficient management of production units through training programs in various job oriented
skills/trades leading to self/wage employment.
- To help in furthering the Government policies and programs for the development of Minorities.
- To develop confidence among Minorities of being important stakeholders in nation building.
O B M M S
The TS Minorities Finance Corporation has developed the Online Beneficiary Monitoring & Management System (OBMMS) Software Package with the assistance of the Centre for Good Governance (C.G.G.) in order to improve planning, monitoring and service delivery in a more transparent manner for the implementation of self employment / economic support schemes of the Corporation. This will facilitate transparency and accountability,avoid duplication and curtail the delays in the implementation of the schemes. The OBMMS package is under implementation in all the 31 districts.