As many as 342 beneficiaries were given cars as part of the Telangana Minorities Finance Corporation’s Driver Empowerment Scheme on Tuesday. According to TSMFC vice-chairman and managing director M.A. Waheed, it is a collective effort of the corporation, State Bank of India and a taxi aggregator. He said the Telangana State MFC received over 1,000 applications out of which 342 were selected. While the cost of the car is around ₹7.4 lakh, 60% will be the subsidy component. About ₹50,000 is to be borne by the beneficiary. “Beneficiaries have to repay the loan is 48 instalments,” Mr. Waheed said.