HIMACHAL BACKWARD CLASSES FINANCE AND DEVELOPMENT CORPORATION
ESTABLISHMENT OF CORPORATION
- Incorporated as a Company U/S 25 of the Companies Act, 1956 on 31st January 1994.
- Objective: to undertake the task of Social, Economic, and Educational upliftment of the other Backward Classes.
- Eligible beneficiaries belonging to the Other Backward Classes of Himachal Pradesh whose annual family income is below Rs 3.00 lakh.
Loan Schemes (General Loan & Education Loan) :-
The Corporation provides Loan (General Loan) up to Rs. 15.00 lakh in various schemes. The Corporation provides loans to eligible beneficiaries upto Rs. 15.00 lakh at a lower rate of interest i.e. upto Rs. 1.25 Lakh @ 7% p.a. (repayment period 4 years) above Rs. 1.25 Lakh to Rs.15.00 lakh @8% per annum (repayment period 7 years )under four sectors.
- Small Business Sector: Kariyana Shop, Electrical Shop, Poultry Farm, stationery Shop, Confectionary Shop etc.
- Agriculture & Allied Sector : Tractor Trolly, Bee-Keeping, Dairy Farm, Goat Farming, Pack Animal etc.
- Service Sector : Steel Shuttering Unit, Welding Shop, Tent House, Auto Mobile shop etc.
- Transport Sector: Dezire Taxi, Aulto Taxi, Tempo Traveller, Tata 407 etc.
The Corporation provides Education Loan Scheme up to Rs 15.00 lakh. The loan to eligible OBC students for pursuing Professional /Technical Courses at Graduate/Higher Level i.e. BSC Nursing, LLB, B-Pharmacy, Architecture, B.Tech, GNM etc. A maximum loan limit of Rs. 15.00 @ 8 % per annum. The loan amount is repayable in 10 years in 40 equal quarterly installments. The repayment is effected after six months from the date of completion of the Course or after three months of getting employment, whichever is earlier. Schemes are approved by the National Backward Classes Finance and Development Corporation, New Delhi. The loan amount is shared @ 85% by the NBCFDC, 10% by the HBCFDC and the remaining 5% by the beneficiary.
Interest-Free Study Loan: -
The Corporation also provides Interest-Free Study with a maximum limit of Rs. 75,000 for full term. To the deserving poor students (whose annual family income does not exceed Rs. 36,000 for pursuing Technical and Higher Degree/Diploma Courses beyond High School stage. The loan is repayable in 5 years in 20 equal quarterly installments. The repayment is effected after six month from the date of completion of Course, or after getting employment whichever is earlier.
The Corporation has disbursed loan amounting to Rs 95.15 crore under various schemes to 5524 beneficiaries and has recovered a sum of Rs 92.86 crore upto 31-03-2024.