TSMFC must grant loans to hawkers, small traders of minority community

Hyderabad: It is high time the state government must issue directives to Telangana State Minorities Finance Corporation (TSMFC) to provide micro loans to hawkers and footpath traders specially belonging to the minority community to mitigate their financial difficulties in the wake of Corona pandemic and lock-down.

It is a known fact that the self-employed hawkers and small traders contribute in the economic progress of the state. 

Due to the lockdown, the hawkers and the small traders suffered heavy losses and they are trying to stand on their feet once again.  Now it is the duty of the state government to immediately launch micro finance/loan schemes to give relief to hawkers and the small traders. 

Such a initiative would not only be helpful to the poor and lower middle class families and give an economic boost to the state’s economy but also garner the goodwill of these poor people towards the state government.

In the absence of any financial aid to these poor people, they are compelled to take loans on heavy interests from the loan-sharks and whatever they are earning is going in interests. 

In such a case, the state government must direct the TSMFC to provide loans to the hawkers and the small traders either directly or through linkage with the bank. 

A representation from the hawkers shall be sent to the state government in this regard to help thousands of small traders.