The Industrial Sector Scheme, implemented by the Haryana Scheduled Castes Finance and Development Corporation (HSFDC), is a transformative initiative aimed at uplifting individuals from Below Poverty Line (BPL) families belonging to the Scheduled Caste (SC) community. Established on January 2, 1971, under the Companies Act, 1956, the HSFDC is a government-owned corporation with a 51% stake held by the State Government of Haryana and a 49% stake by the Government of India. Through this scheme, HSFDC provides financial assistance in the form of loans, subsidies, and margin money to support self-employment and income-generating activities in both rural and urban areas.
Objective of Haryana SC Industrial Sector Loan
The primary goal of the Industrial Sector Scheme is to empower SC entrepreneurs by offering them access to affordable credit and subsidies. This enables beneficiaries to establish small-scale businesses or trades such as carpentry, leather goods manufacturing, handloom operations, flour milling, welding work, soap making, and other viable ventures. By fostering entrepreneurship, the scheme aims to improve the socio-economic conditions of SC families while promoting inclusive growth.
Key Benefits of the Scheme
- Project Cost Ceiling: The maximum project cost eligible under the scheme is ₹1,50,000.
- Subsidy: Beneficiaries receive a subsidy of 50% of the total project cost, with a maximum subsidy amount capped at ₹10,000.
- Margin Money:
- HSFDC provides 10% of the project cost as margin money.
- The interest rate on margin money is 4% per annum.
- Bank Loan: Banks provide the remaining loan amount after accounting for the subsidy and margin money. Interest rates on bank loans are determined based on the lending policies of the respective banks.
- Repayment Terms:
- Interest recovery starts immediately after disbursement.
- Penal interest applies if repayment delays exceed 180 days.
- Principal recovery begins after 360 days, with installment payments commencing 180 days after disbursement.
Eligibility Criteria
To avail the benefits of the Industrial Sector Scheme, applicants must meet the following conditions;
- Residency: The applicant must be a resident of Haryana.
- Community: The applicant should belong to the Scheduled Caste category.
- Income Limit: The annual family income of the applicant should not exceed ₹1,80,000 in both rural and urban areas.
- BPL Status: The applicant must be listed in the BPL Survey List.
- Verification: Eligibility is verified by field staff before forwarding the application to the bank for sanction.
Types of Trades/Businesses Covered
The scheme supports a wide range of income-generating activities, including but not limited to:
- Carpentry
- Leather and leather goods manufacturing
- Handloom operations
- Flour milling
- Welding work
- Soap making
- Mixi manufacturing
- Other viable small-scale industrial or trade activities
How to Apply – Online/ Offline Process
Applications for the Industrial Sector Scheme can be submitted either online or offline through the HSFDC. Below are the steps for online registration and application;
Online Registration Process:
- Visit the Official Website: Access the official HSFDC website and navigate to the ‘Bank Tie-up Scheme’ section.
- Apply for Loan: Click on “Apply for Loan” to begin the registration process.
- Register Details: Fill in your name, Aadhaar number, email, mobile number, and captcha code. Click “Register.”
- OTP Verification: Enter the OTP sent to your registered mobile number and click “Submit.”
- Fill Application Form: Complete the application form, upload the required documents, and submit it.
- Receive Credentials: After submission, you will receive your user ID and password for future login.
Login and Final Submission:
- Log In: Visit the HSFDC website and log in using your user ID/username, password, and captcha code.
- Update Profile: On the dashboard, click “Edit Profile,” fill in surety details, upload additional documents, and update missing information.
- Final Submit: Once all details are complete, click “Final Submit.”
- Print Application: After submission, print the application form for your reference.
Offline Application Process:
Applicants can also visit the nearest HSFDC office or authorized bank branch to collect and submit the application form along with the required documents.
Essential Documents
To ensure a smooth application process, prepare the following documents;
- Aadhaar Card
- Passport-size photograph
- Ration Card
- Voter Card or any valid identity proof
- Scheduled Caste Certificate issued by a competent authority
- BPL Card or document proof
- Proof of income (e.g., income certificate)
- Any other documents specified by HSFDC
Frequently Asked Questions (FAQs)
Q1. Who implements the scheme?
A1. The scheme is implemented by the Haryana Scheduled Castes Finance and Development Corporation (HSFDC) in collaboration with tie-up banks.
Q2. Who is eligible for the loan under this scheme?
A2. Individuals from the Scheduled Caste community residing in Haryana, whose annual family income does not exceed ₹1,80,000, and who are listed in the BPL Survey List.
Q3. What types of trades or businesses are covered under the scheme?
A3. The scheme covers small-scale industries and trades such as carpentry, leather goods manufacturing, handloom operations, flour milling, welding work, soap making, mixi manufacturing, and other viable activities.
Q4. What is the project cost ceiling for the scheme?
A4. The maximum project cost eligible under the scheme is ₹1,50,000.
Q5. Is there a subsidy provided under the scheme?
A5. Yes, beneficiaries receive a subsidy of 50% of the project cost , with a maximum subsidy amount of ₹10,000 .
Q6. What is margin money in the context of this scheme?
A6. Margin money refers to 10% of the project cost provided by HSFDC at an interest rate of 4% per annum.
Q7. How is the bank loan structured under this scheme?
A7. Banks provide the balance amount of the loan after accounting for the subsidy and margin money. Interest rates are determined based on the bank’s lending policies.
Q8. How is the eligibility of the applicant verified?
A8. Eligibility is verified by field staff before the application is forwarded to the bank for sanction.
Q9. Can applicants from urban areas apply for this scheme?
A9. Yes, the scheme is open to applicants from both rural and urban areas.
Q10. Where can one apply for the scheme?
A10. Applications can be submitted online via the official HSFDC website or offline at HSFDC offices or authorized bank branches.
Why Choose This Scheme?
The Industrial Sector Scheme is a lifeline for SC entrepreneurs seeking financial support to start or expand their businesses. With attractive subsidies, low-interest margin money, and comprehensive coverage of small-scale industries, the scheme removes barriers to entrepreneurship and fosters economic empowerment. It is a vital initiative that empowers Scheduled Caste entrepreneurs in Haryana by providing them with the tools and resources needed to succeed. Whether you’re looking to start a small business or scale up an existing venture, this scheme offers the perfect opportunity to achieve your goals.
Don’t miss out, visit the official HSFDC website today or contact your nearest HSFDC office to learn more and apply! For further details, refer to the official guidelines or consult the Haryana Scheduled Castes Finance and Development Corporation.
