The Schemes of the H.P. Backward Classes Finance & Development Corporation are designed to foster the social, educational, and economic upliftment of the notified backward classes living below the poverty line in Himachal Pradesh. These schemes provide loans for various projects including agriculture, handicrafts, ancestral businesses, small and cottage industries, transport services, and more. Additionally, special provisions such as the Swarnima Yojana offer concessional loans to women for self-employment, and interest-free loans are available for higher education and technical/vocational training.
Benefits
- Project Loans:
- Loans ranging from ₹50,000/- to ₹5.00 Lakhs are available at an interest rate of 6%.
- For loan amounts above ₹5.00 Lakhs, an interest rate of 7% applies.
- Swarnima Yojana for Women:
- Provides loans at an interest rate of 5% for self-employment.
- Educational Loans:
- Interest-free loans up to ₹75,000/- for higher education for students from families with an annual income of less than ₹98,000/-.
- Technical and Vocational Education Loans:
- Loans up to ₹5.00 Lakhs are available:
- For boys at an interest rate of 4%.
- For girls at an interest rate of 3.5% (350 percent interest rate appears to be a typographical error; likely intended to be 3.5%).
- Loans up to ₹5.00 Lakhs are available:
Eligibility
- Geographical Area:
Beneficiaries must be living in rural or urban areas of Himachal Pradesh. - Age Group:
Applicants should be between 18 and 55 years of age. - Income Criteria:
- Rural Areas: Annual income should be less than ₹98,000/-.
- Urban Areas: Annual income should be less than ₹1,20,000/-.
- Target Beneficiaries:
Persons from the notified backward classes who fall under the above income and age criteria. - Special Criteria for Women:
Under the Swarnima Yojana, women living below the poverty line are eligible for loans at a concessional interest rate for self-employment.
Application Process
The application process is conducted offline:
- Obtain the Prescribed Form:
- Eligible individuals must collect the prescribed application form.
- Fill in the Details:
- Complete the application form by providing all required details.
- Attach Mandatory Documents:
- Ensure the form is accompanied by the necessary certificates and documents (self-attested, if required).
- Submission:
- Submit the application along with the documents to the designated authority as specified by the Corporation.
Note: It is mandatory that the application is submitted along with the following documents.
Documents Required
- Caste Certificate:
Issued by the competent authority confirming backward class status. - Income Certificate:
Document verifying that the applicant’s annual income is within the eligible limit. - Age Certificate:
Proof of the applicant’s age. - Himachali Certificate:
A certificate issued by the executive magistrate to verify state residency.
Frequently Asked Questions
-
Who are the beneficiaries?
Beneficiaries include individuals from the notified backward classes living below the poverty line in Himachal Pradesh. -
What is the age group for eligibility?
Applicants should be between 18 and 55 years of age. -
What is the income eligibility for rural areas?
The annual income should be less than ₹98,000/-. -
What is the income eligibility for urban areas?
The annual income should be less than ₹1,20,000/-. -
Is there any special criterion for women?
Yes, under the Swarnima Yojana, women are offered loans for self-employment at a concessional interest rate of 5%. -
What are the loan criteria?
Loans range from ₹50,000/- to ₹5.00 Lakhs at 6% interest, and loans above ₹5.00 Lakhs attract an interest rate of 7%. -
What support is available for technical and vocational education?
Loans up to ₹5.00 Lakhs are available:- For boys at 4% interest.
- For girls at 3.5% interest.