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The APSMFC Andhra Pradesh State Minorities Financial Corporation Limited is a statutory body that aims to help the less privileged of Andhra Pradesh for their overall upliftment of the candidates. The APSMFC assists the weaker sections and socio-economically backward classes by funding them. The Sections of Minorities are classes such as Muslims, Sikhs, Buddhists, Sikhs, Parsis, and Jains. The APSMFC is trying to boost the spirits of the students by encouraging them in their path of building their career by helping them financially. The APSMFC is granting scholarships like the Pre-Matric Scholarship, Post-Matric Scholarship and Financial Assistance to the minority under Subsidy.

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The goals of this initiative are Socio-Economic Development, Advancement of Women, Developing confidence among of being important stakeholders in Nation Building.

APSMFC Pre Matric scholarship

The APSMFC pre-matric scholarship will be granted to the school going students of Class VI-X and comes from an economically and socially backward society. The Candidates first have to fulfill the Eligibility Criteria to Apply for the Scholarship.

The Scholarship amount for Class VI-VIII students is 600 INR and IX and X students will be 800 INR.

Eligibility Conditions:

  1. The Economically Backward candidates will only be sanctioned the funds.
  2. The Family income should be less than that of 1 lakh per Annum.
  3. The Scholarship Amount shall be only disbursed to the students who have 75% attendance.

Application Procedure:

The candidates should collect the form from the official website of APSMFC. They can also collect is from the district offices. The Application Forms along with the valid documents should be submitted to the District Minorities Welfare Officer/Executive Officer.

Documents required

Income Certificate issued by the Tahsildar
Photocopy of the Bank Passbook. The Account should be Joint Account of the Parent and Student.
Bonafide certificate
Photocopy of Previous Year Mark sheet
Proof of Permanent Residence of Parent/Guardian like Ration Card
Photograph attested by Head Master
Minority Community Declaration- Affidavit on Non Judicial Stamp Paper

APSMFC Post Matric scholarship

The APSMFC Post Matric scholarship will be granted to the candidates who are economically backward and the students of Intermediate Graduation, Post graduation, and Professional Courses. The Candidates first have to fulfill the Eligibility Criteria to Apply for the Scholarship.

Eligibility Conditions:

  1. The Economically Backward candidates will only be sanctioned the funds and reimbursement of the Fees.
  2. The Family income should be less than that of 1 lakh per Annum
  3. The Scholarship Amount shall be only disbursed to the students who have 75% attendance.
  4. If any candidate is a domicile of Andhra Pradesh but is pursuing their education in some other state, they will be eligible to get the fee reimbursement on condition that the family income is less than 1 lakh INR

Application Procedure:

The Candidates have to apply on the official Website of APSMFC for the Application Procedure. For offline forms, candidates have to visit the district offices. The application form along with required documents shall be submitted to the District Minorities Welfare Officer / Executive Directors Office of the concerned Districts through the Head Master of the concerned School.

Documents required

Income Certificate issued by the Tahsildar
Photocopy of the Bank Passbook. The Account should be Joint Account of the Parent and Student.
Bonafide certificate
Photocopy of Previous Year Mark sheet
Proof of Permanent Residence of Parent/Guardian like Ration Card
Photograph attested by Head Master
Minority Community Declaration- Affidavit on Non Judicial Stamp Paper

Rate of Scholarship for Pre and Post Matric Students:

Class Day Scholars Hostelers
Admission Fee from Class VI to VIII Rs.500/-p.a Subject to actuals Rs.500/-p.a Subject to actuals
Tuition Fee From Class VI to X Rs.350/- per Annum Rs.350/- per Annum
Maintenance Allowance will be Payable for a period not exceeding 10 months in Academic Year.
Class I-V Nil Rupees 100 pm
Class VI-X Rupees 600 pm Rupees 100 pm

Financial Assistance to the Minorities Under Subsidy

The Andhra Pradesh State Minorities Finance Corporation Limited extending assistance by the Grant-in-Aid to the socially and economically sections of the society. This Aid is given for the selling up of Business, Servicing, Agriculture, Small Industries, and other allied viable activities to make them self-employable to earn the livelihood. The aim is to bring Socio-Economic development, Advancement of Women, Developing Confidence among minorities of being important Stake Holders in Nation Building. Under Subsidy of Bankable schemes, 3464 Minorities will be benefited.

Pattern of Finance:

The Corporation is extending Financial Assistance to the schemes up to Rs. 2,50,000/- in general and for transportation Schemes Rs. 3,00,000/- in particular subject to maximum subsidy component of Rs. 1,00,000/-.

  1. Corporation subsidy : 50% of Unit Cost (Max upto Rs. 1,00,000/-)
  2. Bank Loan : 40% of Unit Cost (Max upto Rs. 1,50,000/-)
  3. Beneficiary Contribution: 10% of Unit Cost (Max upto Rs. 30,000/-)

Eligibility Criteria for the Financial Aid:

Those who want to apply for the Financial Assistance should first fulfill the Eligibility criteria under Bankable schemes for Subsidy of Bankable Scheme:

  • The Beneficiaries should belong to Minority Community.
  • The beneficiary should be 21-55 years of age.
  • The Annual income of the family should not be more than 2,00,000 in Urban Areas and for the Applicants in the rural Areas should not be more than 1,50,000.
  • The Beneficiaries should possess Aadhar Card/Ration Card.
  • Preference shall be given to women beneficiaries so as to cover a minimum of 33 1/3% of the total target for the District and Mandal level.

Application Procedure:

  • The Minority Applicants who desire to avail the assistance shall apply through the online beneficiary monitoring system to ensure transparency and accountability.
  • After registering in the online beneficiary monitoring system the hard copy will be obtained.
  • The Application should be submitted to MPDO/Municipal Commissioner/Zonal Commissioner with documents.

The documents needed to be provided are :

  • Income Certificate issued by Tahsildar.
  • Photostat Copy of the Ration Card
  • Photostat Copy of the Aadhar Card
  • One Passport size Photo.

Selection of the Candidates:

The total candidates beneficiaries for the districts shall be divided among Mandals/municipalities in proportion to the Minority population of the respective Mandals / Municipalities of Districts.

The selection will be done at Mandals/Municipalities/Municipal Corporation by a screening cum selection Committee. The Executive Director should complete Loan Agreement Bond duly affixing Rs.10/- Special adhesive stamp before forwarding the proceedings to Head Office for release of Subsidy through Online. b) Subsidy for the beneficiaries shall be administered through the online system.

Implementation:

A Committee will look after the implementation of the scheme. The District monitoring committee shall consist of the Chairman, a PD DRDA member, PD MEPMA member, ED Minority Corporation Convenor, LDM Member. The following activities are performed for the implementation of the schemes:

  • Preparation of the District Action plan of the scheme.
  • The District Collector shall convene special DLBC’s in order to expedite the process of the sanction of Subsidy for Bankable Loan Scheme.
  • Ensure the Constitution of Selection Committees at the Mandal level & ensure that the selection of beneficiaries is done within the time frame.
  • District Level Committee shall examine any complaints in the process of selection of beneficiary and grounding of the scheme.
  • Reviewing the progress of the scheme at frequent intervals.
  • Working on other intervention which might be needed for the successful implementation of the scheme.

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