The Haryana Scheduled Castes Finance and Development Corporation (HSFDC) has introduced the “Professional and Self Employment Scheme” to uplift individuals from Below Poverty Line (BPL) families belonging to the Scheduled Caste (SC) community. Implemented in collaboration with bank tie-up schemes, this initiative provides financial assistance for self-employment activities and professional pursuits. The scheme supports fields such as legal practice, Chartered Accountancy, medical practice, and other viable professional ventures, empowering beneficiaries to achieve economic independence.
Objective of HSFDC Self Employment Scheme
The primary objective of the “Professional and Self Employment Scheme” is to provide financial support to individuals from BPL families in the SC community. By offering loans, subsidies, and margin money, the scheme enables beneficiaries to establish sustainable self-employment ventures or pursue professional education, thereby improving their socio-economic status.
Key Benefits of the Scheme
- Project Cost Ceiling:
- Loans are provided for projects costing up to ₹1,50,000.
- Subsidy:
- Beneficiaries receive a 50% subsidy on the total project cost, with a maximum subsidy amount of ₹10,000.
- Margin Money:
- HSFDC provides 10% of the project cost as margin money at an interest rate of 4% per annum.
- Bank Loan:
- The remaining loan amount is provided by banks under their lending policies. The composite loan includes subsidy, margin money, and the bank loan.
- Flexible Repayment Terms:
- Interest on the loan starts from the date of disbursement.
- Principal repayment begins after 360 days, with installments starting after 180 days.
- Penal interest is charged at 4% per annum if repayment is delayed beyond 180 days.
Eligibility Criteria
To qualify for the benefits under this scheme, applicants must meet the following conditions;
- Residency: The applicant must be a permanent resident of Haryana.
- Caste: The applicant must belong to the Scheduled Caste category.
- Income Limit: The annual family income should not exceed ₹1,80,000 in both rural and urban areas.
- BPL Status: The applicant must belong to a Below Poverty Line (BPL) family and should be included in the BPL Survey List.
- Verification: Eligibility is verified by field staff before forwarding the application to the bank for sanction.
Note: Non-scheduled caste individuals are not eligible for this scheme.
How to Apply – Online/ Offline Process
The application process can be completed either online or offline. Below is the step-by-step guide for both methods;
Online Application Process:
- Visit the official website of HSFDC.
- Select the scheme under the ‘Bank Tie-up Scheme’ section and click on “Apply for Loan.”
- Register by providing your details (name, Aadhaar number, email, mobile number, etc.) and submit the OTP received on your mobile.
- Fill out the application form, upload the required documents, and submit it.
- Note down the user ID and password generated after submission.
- Log in to the portal using your credentials, update your profile, and submit the final application.
- Print the application for future reference.
Offline Application Process:
- Visit the nearest HSFDC office or authorized agency.
- Collect the application form and fill it out with all required details.
- Attach self-attested copies of necessary documents.
- Submit the completed application form to the concerned office.
- Follow up with the field staff for verification and further processing.
Essential Documents
To ensure smooth processing of your application, make sure you have the following documents ready;
- Aadhaar Card
- Passport-size photograph
- Ration Card
- Voter Card or any valid identity proof
- Scheduled Caste Certificate
- BPL Card/document proof
- Proof of income
- Any other relevant documents as specified
Why Is This Scheme Important?
Access to financial resources is critical for marginalized communities to break the cycle of poverty and achieve economic empowerment. The “Professional and Self Employment Scheme” bridges the gap by providing affordable loans, subsidies, and margin money to SC individuals. By supporting self-employment and professional education, the scheme fosters entrepreneurship, skill development, and inclusive growth.
Frequently Asked Questions (FAQs)
Q1. Who implements the Professional and Self Employment Scheme?
A1. The scheme is implemented by the Haryana Scheduled Castes Finance and Development Corporation (HSFDC) in collaboration with bank tie-up schemes.
Q2. What is the maximum project cost under the scheme?
A2. The maximum project cost is ₹1,50,000.
Q3. How much subsidy is provided under the scheme?
A3. A subsidy of 50% of the project cost is provided, with a maximum subsidy amount of ₹10,000 .
Q4. What is margin money, and how is it provided?
A4. Margin money is 10% of the project cost, provided by HSFDC at an interest rate of 4% per annum.
Q5. How is the bank loan structured in this scheme?
A5. Banks provide the remaining loan amount under their lending policies. The composite loan includes a subsidy, margin money, and the bank loan.
Q6. Can individuals from urban areas apply for this scheme?
A6. Yes, individuals from both rural and urban areas can apply, provided they meet the eligibility criteria.
Q7. What professional fields are supported under this scheme?
A7. The scheme supports fields such as legal practice, Chartered Accountancy, medical practice, and other viable professional activities.
Q8. What is the annual family income limit to be eligible for the scheme?
A8. The annual family income should not exceed ₹1,80,000 in both rural and urban areas.
Q9. Is there an interest rate on the bank loan under this scheme?
A9. Yes, the interest rate on the bank loan is determined by the bank’s lending policies.
Q10. How can I apply for the scheme?
A10. You can apply online through the official HSFDC website or offline by visiting the nearest HSFDC office.
Conclusion
The “Professional and Self Employment Scheme” by HSFDC is a transformative initiative aimed at empowering Scheduled Caste individuals from Below Poverty Line families. By providing financial assistance for self-employment and professional education, the scheme plays a vital role in reducing economic disparities and fostering inclusive development. If you’re an SC individual aspiring to start a business or pursue a professional career, don’t miss out on this opportunity to secure financial assistance.
For more information, visit the official HSFDC website or contact your nearest HSFDC office today!
