First Interest-Free MACCS SEVA Opens in Tolichowki, Nine More to Come in Hyderabad

First interest-free credit outlet, Mutually Aided Co-operative Credit Society (MACCS) SEVA has come up in Tolichowki area of Hyderabad. It is backed by Human Welfare Foundation.


Deputy CM of Telangana Mohammad Mahmood Ali and JIH President Hamid Mohammed Khan inaugurated the  government approved outlet in MCH Colony of Tolichowki on December 25. MIM MLA Kausar Mohiuddin accompanied them.

Mr. Ali requested inhabitants of Tolichowki area to support SEVA. He said this type of initiatives will “help reduce Muslims’ alienation from the mainstream”.

The SEVA outlet offers interest-free loans, and savings accounts for its members who can opt for either term deposit or daily deposit. Beneficiary of a loan in SEVA need not have to provide surety.

                            SEVA  MACCS  – Tolichowki

When asked how one can benefit from loan service at SEVA, Human Welfare Foundation AP & TS general secretary Abdul Jabbar Siddiqui said that the loans would be given to small businesses and vendors in the area after an appraisal process.


Mr. Siddiqui noted that there’s a limit of maximum Rs. 50,000 for loan amount and beneficiary would receive goods instead of cash as a loan. Our loan collectors promptly recover loan installments on a daily basis, and maximum repayment time is 90 days.

“Our actual target is those income groups that often fluctuate at Below Poverty Line (BPL) level. We want to help them come out of BPL and stabilize themselves,”

“We have plans to open as many as 45 such branches across Telangana State. In Hyderabad alone, we have surveyed about 18 areas covering 5000 people and small businesses,” he said.

“Plan is to open 10 MACCS SEVA branches in Hyderabad. Second SEVA outlet in Hyderabad would come up in the Charminar area soon,” Mr. Siddiqui added.

“Unlike other micro loan offers from local sources and banks that come with huge interest, SEVA’s interest-free loan with easy repayment option would attract people,” believes Mr. Siddiqui.

He hoped that more SEVA outlets mean hapless farmers would not commit suicide and poor men would not fail to protect the dignity of their families due to interest-bound loan menace.

The first SEVA branch in Telangana was established in Sangareddy in November 2012. Members of a SEVA outlet are like shareholders of the society who enjoy their due share according to law.