Schemes of HP Backward Classes Finance & Development Corporation
About this scheme
The Scheme "Backward Classes Finance & Development Corporation", has been launched by the Department of Social Justice and Empowerment, Himachal Pradesh, aiming to uplift the social, educational, and economic status of people belonging to notified backward classes living below the poverty line. Under the Swarnima Yojana, loans are provided to women living below the poverty line from backward classes for self-employment at the rate of 5% interest.
Benefits
- Loans from ₹50,000 to ₹5,00,000/- are provided at 6% interest for activities such as agriculture, handicrafts, traditional business, small and cottage industries, and transport services.
- Loans above ₹5,00,000/- are provided at an interest rate of 7%.
- Under the Swarnima Yojana, women from backward classes living below the poverty line are given self-employment loans at 5% interest.
- Interest-free education loans up to ₹75,000/- are provided for higher education to students whose family income is below ₹98,000/- per year.
- For technical and vocational education, loans up to ₹5,00,000/- are available at 4% interest for boys and 3.5% interest for girls.
Who is Eligible
- The applicant should be a resident of Himachal Pradesh.
- The applicant should belong to a backward class.
- The applicant’s age should be between 18 and 55 years.
- Applicants living in rural areas must have an annual income of less than ₹98,000/-.
- Applicants living in urban areas must have an annual income of less than ₹1,20,000/-.
How to Apply
Offline
Step 1: Fill the prescribed application form and attach all required documents.
Step 2: Submit the application to the concerned District Welfare Officer or Tehsil Welfare Officer.
Step 3: After verification, the application is processed by the Corporation.
Loan Application
Interest Free Educational Loan Application Form
Documents Required
- Caste certificate
- Income certificate
- Age certificate
- Himachali certificate issued by the Executive Magistrate
- Identity proof (Aadhaar card, Voter ID, etc.)
- Bank account details
Who Is Not Eligible
Frequently Asked Questions
- What is the objective of this scheme?
To uplift the social, educational, and economic status of people from notified backward classes living below the poverty line.
- Who is eligible to apply?
Persons belonging to backward classes aged 18 to 55 years with income below ₹98,000 (rural) or ₹1,20,000 (urban).
- What types of loans are provided?
Loans are provided for agriculture, handicrafts, ancestral businesses, small and cottage industries, transport services, and self-employment projects.
- Is there any special scheme for women?
Yes, under the Swarnima Yojana, women from backward classes living below the poverty line can avail loans for self-employment at 5% interest.
- Are education loans available?
Higher education: Interest-free loans up to ₹75,000 for families earning below ₹98,000/year
Technical/vocational education: Loans up to ₹5.00 lakh (4% interest for boys, 3.5% for girls)- Where should the application be submitted?
To the concerned District Welfare Officer or Tehsil Welfare Officer.
- Who is the Liaison Officer for this scheme?
The Managing Director of HP Backward Classes Finance & Development Corporation, Kangra, or the concerned District/Tehsil Welfare Officer.
- Is there an age limit to apply?
Yes, applicants must be between 18 and 55 years of age.
- Is income proof mandatory?
Yes, applicants must provide an income certificate to verify eligibility.
- Is there a special scheme for girls’ education?
Yes, girls can avail loans for technical and vocational education at 3.5% interest.
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