Schemes Of HP Minorities Finance & Development Corporation
At a Glance
Scheme Category
Social welfare & Empowerment,Financial assistance
Target Beneficiaries
Individual
Brief Description
Social, educational and economic upliftment of the minority class people living below the poverty line of the state.
Benefit Type
Cash
Eligibility Criteria
Individuals belonging to minority communities (Sikhs, Muslims, Christians, Buddhists, Jains and Parsis) in the age group of 18 years to 55 years whose annual income is Rs.98,000/- (rural areas) and Rs.1,20,000/- (urban areas) be less than.
Application Mode
Offline
Required Documents
- It is mandatory for the eligible person to submit his application on the prescribed form along with
- - Caste certificate.
- - Income certificate.
- - Age certificate.
- - Himachali certificate issued by the executive magistrate.
FAQs
What is the full form of HPMFDC?
The H.P. Minorities Finance & Development Corporation (HPMFDC) was registered under Section 25 of the Companies Act, 1956 (not for profit) on 23-09-1996 and was declared State Channeling Agency (SCA) for National Minorities Finance & Development Corporation, New Delhi (NMFDC) with the objective to give social, economic and educational upliftment to the people of Minorities below double the poverty line in H.P. by providing financial assistance/loans to them for setting up of self employment ventures of income generating activities and education loan for acquiring professional/technical education and job oriented degrees in India and abroad as well, as per NMDFC guidelines and schemes.
What is term loan scheme for minorities?
NMDFC provides loan to the extent of 90% of the project cost subject to a maximum of Rs 18.00 lacs. The remaining cost of project is met by the SCA and the beneficiary. However the beneficiary has to contribute minimum of 5% of the project cost.
Who is minority in Himachal Pradesh?
The minority communities (Sikhs, Muslims, Christians, Buddhists, Jains and Parsis).
What is a minority status?
Article 1 of the United National Declaration on Minorities refers to minority status as based on national or ethnic, cultural, religious and linguistic identity.
Who are the liaison officer in Himachal Pradesh?
Managing Director, Himachal Pradesh Minorities Finance and Development Corporation Shimla / Concerned District Welfare Officer / Tehsil Welfare Officer.
Waht is the age for avail the Loans for professional and technical educations?
The age of the applicant should be between 16 years to 32 years.
Is there any opportunity for self-employment?
Yes, Loans are given for self-employment for 5 years at 6 percent interest rate up to Rs.5.00 lakh.