The Bank Tie-Up Scheme is an initiative by the Punjab Scheduled Castes Land Development & Finance Corporation (PSCLDFC) aimed at providing financial assistance to permanent residents of Punjab belonging to Scheduled Castes who live Below Poverty Line (BPL). This 100% state-sponsored scheme facilitates loan procurement through banks while providing a capital subsidy to eligible applicants.
Benefits
- Subsidy:
- Capital subsidy of up to 50% of the total loan amount, subject to a maximum of ₹10,000/-.
- The subsidy is funded by the Government of India under the Scheduled Caste Assistance (SCA) fund.
- Loan Facility:
- Loans are provided by various banks operating in Punjab at interest rates as per RBI guidelines.
Eligibility Criteria
Applicants must meet the following criteria:
- Citizenship & Residency:
- Must be a citizen of India and a permanent resident (domicile) of Punjab.
- Economic Status:
- Must belong to the Below Poverty Line (BPL) category.
- Community:
- Must be from the Scheduled Caste category.
- Income Limits:
- For rural applicants: Family’s annual income must not exceed ₹67,649/-.
- For urban applicants: Family’s annual income must not exceed ₹88,756/-.
- Exclusivity:
- Applicants should not already be availing benefits under this scheme.
Application Process (Offline)
- Obtain Application Form:
- Download Form-I/Form-II from the official PSCLDFC website or collect it free of cost from the District Offices.
- Complete the Form:
- Fill in all mandatory fields.
- Attach a recent passport-size photograph (signed across) and all required (self-attested) documents.
- Submission:
- Submit the duly filled and signed application form along with the documents at the District Office.
- Acknowledgment:
- Obtain a receipt or acknowledgment of the submission from the District Office.
Post-Application Process
- Verification:
- The District Manager sponsors the application to the concerned bank branch for joint verification.
- Sanction and Subsidy Claim:
- Cases are sanctioned by the bank, which then claims the subsidy.
- District-Level Review:
- The application is referred to the District Level Committee chaired by the Additional District Commissioner (ADC).
- Loan Disbursement:
- Once approved, the bank disburses the loan along with the subsidy directly to the beneficiary.
Documents Required
- Application form duly attested by a competent authority.
- Residential Certificate/Domicile Certificate of Punjab.
- Caste Certificate.
- Valuation Certificate of the property to be mortgaged.
- Map of the Property.
- Farad Zama Bandi (property tax document).
- Copy of the Registry (if the property is self-purchased).
- Affidavit regarding the loan.
- Three passport-sized photographs (signed across).
- Employer Certificate, Salary Certificate, and Surety Bond (for service surety cases).
- Aadhaar Card.
- Bank Account Details (including Bank Name, Branch, Address, IFSC, etc.).
- Income Certificate.
Frequently Asked Questions (FAQs)
- How much is the capital subsidy? Is there an upper ceiling?
- Subsidy is up to 50% of the loan amount, with a maximum limit of ₹10,000/-.
- What are the sources of funds for the subsidy?
- The subsidy is provided by the Government of India under the Scheduled Caste Assistance (SCA) fund.
- Which banks provide the loan?
- Loans are offered by various banks operating in Punjab, as per RBI guidelines.
- What are the income criteria for this scheme?
- Annual family income must not exceed ₹67,649/- for rural areas and ₹88,756/- for urban areas.
- When is the copy of the registry required?
- It is mandatory if the property is self-purchased.
- What is the rate of interest on the loan?
- The rate is determined by the banks in accordance with RBI guidelines.
- Where can I find the scheme guidelines and application forms?
- Guidelines and forms (Form-I and Form-II) are available on the official PSCLDFC website and at District Offices.
- What does BPL stand for?
- BPL stands for “Below Poverty Line.”
- Is the Residential/Domicile Certificate of Punjab mandatory?
- Yes, it is a mandatory document.
- Can I reapply if I am already availing the benefits of this scheme?
- No, if you are already availing benefits under the scheme, you cannot reapply.
- Is this scheme state-funded or centrally funded?
- It is a 100% state-sponsored scheme.
- Is there any application fee?
- No, there is no application fee.
- Is there any compensation for delay in disbursement?
- No specific compensation is provided for delays in disbursal.
- How do I know if a field in the application form is mandatory?
- Fields marked with an asterisk in the application form are mandatory.