Mujtaba Muneeb for BeyondHeadlines

Aurangabad: In what seems to be alleged eyewash practiced by the Maulana Azad Finance Corporation (MAFC), only 867 loan files out of 6555 have been approved so far. One of the primary functions of MAFC is to provide loans to minorities for the purpose of setting up small scale business.

According to sources, MAFC had invited applications about three months ago. While calling the applications, MAFC didn’t declare that the approval of applications will be by lucky draw system. Thus by approving a very small fraction of applications has further infuriated the applicants.

It is also alleged that the files that got approved have been sanctioned a maximum of Rs 40,000, which the applicants found to be too meagre. Rumours are also doing the rounds that calling applications is an act to gain support of Muslims as they are not having other agendas, as Cong-NCP government had asked only applications but didn’t approve all of them. The others are reported to be striving for their approvals. Moreover, the approved applications have not been displayed till date.