Being implemented since the year 2009, the “Education Loan Scheme” is a scheme by the Leather Industries Development Corporation (LIDCOM), Govt. of Maharashtra. In this scheme, finance of upto ₹ 20,00,000 is provided for post graduate students in the 18-50 years age group from Charmakar Community for studies in India and in abroad. Only the citizens who are a permanent resident of the state of Maharashtra are eligible to apply to this scheme. This is a Central Government Scheme and the funding for this scheme come from the National Scheduled Castes Finance and Development Corporation, New Delhi (NSFDC). The main objective of LIDCOM is to implement various schemes to uplift lifestyle of Charmakars (Dhor, Chambhar, Holar, Mochi etc.) who are economically weak and below poverty line and with an intention to develop them educationally, economically and socially so as to give them respectable place in Society.
Benefits:
- Education Loan up to ₹10,00,000 for post graduate students in India.
- Education Loan up to ₹20,00,000 for post graduate students in abroad.
- Rate of Interest for Male Beneficiary: 4% per annum.
- Rate of Interest for Female Beneficiary: 3.5% per annum.
Eligibility Criteria:
- The applicant should be a citizen of India.
- The applicant should be a permanent resident of Maharashtra State.
- The applicant should be from Charmakar Community only (Dhor, Chambhar, Holar, Mochi etc.).
- The applicant should be in the 18 to 50 years age group.
- The annual income of the family of the applicant should be less than or equal to Rs.3,00,000/-.
- The applicant should have a knowledge of the business for which s/he has applied for loan.
Application Process:
Offline Application:
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Step 2: Fill in all the mandatory fields, paste the passport sized photograph (signed across), and attach all the (self-attested) mandatory documents.Step 3: Submit the duly filled and signed application form along with the documents to the District Office.Step 4: Acquire the receipt/acknowledgement of successful submission of the application form from the District Office.
Documents Required:
- Aadhaar Card
- 2 Passport-Sized Photographs (Signed across)
- Marksheet/Passing Certificate of the Latest Educational Qualification
- Proof of Admission: Offer letter or Admission letter from the institution (conditional admission letter accepted for studies abroad).
- Residential/Domicile Certificate of Maharashtra
- Income Certificate issued by an authorized Government Officer
- Caste Certificate issued by an authorized Government Officer
- Bank Account Details (including Bank Name, Branch Name, Account Number, IFSC Code)
- A/C Statement for the last year (if any previous loans were taken from other banks/lenders)
Frequently Asked Questions (FAQs):
Q1: What are the objectives of this scheme?
A1: The major objective is economically weaker members of the Charmakar community by providing financial assistance for postgraduate studies to improve their educational, economic, and social status.
Q2: What is full-form of LIDCOM?
A2: LIDCOM stands for the full-form of Leather Industries Development Corporation.
Q3: Who should issue the Income Certificate and Caste Certificate?
A3: They should be provided by a Government authority, i.e., by a Tehsildar or Addl. Tehsildar.
Q4: Whether the scheme is state-sponsored or centrally sponsored.
A4: The scheme is centrally sponsored by the National Scheduled Castes Finance and Development Corporation (NSFDC).
Q5: Will applicants from adjoining states (Gujarat, Madhya Pradesh, Chhattisgarh, etc.) be eligible for this scheme?
A5: No, this scheme is specifically for Maharashtra domiciles.
Q6: What is the funding source for this scheme?
A6: The scheme is supported by the National Scheduled Castes Finance and Development Corporation (NSFDC), New Delhi.
Q7: Which sub-communities come under the Charmakar Community?
A7: Sub-communities like Dhor, Chambhar, Holar, Mochi, etc.
Q8: Where can I find the official website of LIDCOM?
A8: Official website URL for LIDCOM is available under LIDCOM Official Website (if available).
Q9: Where do I get the application form? Is it on the website?
A9: The form is available at LIDCOM District Offices and not on the website.