The Punjab Scheduled Castes Land Development & Finance Corporation (PSCLDFC) runs the Bank Tie-Up Scheme to promote self-employment and economic upliftment among Scheduled Caste families living below the Poverty Line (BPL) in Punjab. This 100% state-sponsored scheme facilitates easy access to bank loans alongside a capital subsidy of up to ₹10,000, making it a powerful tool for empowering marginalized communities.
Highlights of Punjab Bank Tie-Up Loan Subsidy
• Name of Scheme: Bank Tie-Up Scheme – PSCLDFC
• Implementing Body: Punjab Scheduled Castes Land Development & Finance Corporation
• Target Group: Scheduled Caste individuals from BPL families
• Loan Amount: As per project requirement (sanctioned by banks)
• Subsidy: Up to 50% of project cost, capped at ₹10,000/-
• Sources of Funds: Subsidy by the Government of India out of SCA; loan by banks
• Interest Rate: As per RBI guidelines, charged by respective banks
• Mode of Application: Offline
• Coverage Area: Entire Punjab (rural and urban)
Key Benefits of the Scheme
• Capital Subsidy: Up to ₹10,000 or 50% of the project cost, whichever is lower.
• Bank Loan Support: Remaining funds provided as a bank loan under a tie-up with PSCLDFC.
• No Processing Fee: There’s no application fee or processing charges.
• State Sponsored: The Entire scheme is fully funded by the Punjab Government.
• Encourages Self-Reliance: Supports SC individuals in establishing income-generating ventures.
Eligibility Criteria
• Must be a permanent resident (domicile) of Punjab.
• Must belong to the Scheduled Caste category.
• Must fall below the Poverty Line (BPL).
• Annual family income:
- Rural: Should not exceed ₹67,649/-
- Urban: Should not exceed ₹88,756/-
• Applicant must not already be availing benefits under the scheme.
• Applicant must be a citizen of India.
How to Apply – Offline Process
Step-by-Step Process:
-
Download or Collect Forms: Print Form I & Form II from the PSCLDFC official website or collect free copies from the District Office.
-
Fill the Form: Enter all mandatory details, paste a passport-sized photograph (signed across), and attach self-attested documents.
-
Submit: Hand in the completed form to the nearest District Office of PSCLDFC.
-
Get Acknowledgment: Ensure you receive a receipt/acknowledgment confirming your submission.
Post-submission Steps:
• Application is verified and sponsored by the District Manager to the bank.
• Bank conducts joint verification and sanctions the loan.
• Subsidy is claimed by the bank, and cases are placed before a District Committee headed by the ADC.
• Finally, the loan and subsidy are disbursed to the beneficiary by the bank.
Necessary Documents for Application
• Duly filled Application Form (Form-I & Form-II)
• Residential/Domicile Certificate (Punjab)
• Scheduled Caste Certificate
• BPL Card/Income Certificate
• Aadhaar Card
• Bank Account Details (IFSC, Branch, etc.)
• 3 Passport-Size Photographs (Signed)
• Employer Certificate, Salary Certificate, Surety Bond (if applicable)
• Affidavit for loan assurance
• Valuation Certificate of property, Map, Farad Zama Bandi, and Registry Copy (if mortgaging property)
Frequently Asked Questions (FAQs)
Q: How much subsidy is offered under the scheme?
A: A capital subsidy of up to ₹10,000 or 50% of the total project cost, whichever is lower.
Q: What is the funding source of the scheme?
A: Subsidy is provided by the Government of India under SCA, while loans are given by partner banks in Punjab.
Q: What does SCA stand for?
A: SCA refers to Special Central Assistance.
Q: What is the income eligibility for rural and urban applicants?
A:
• Rural – Maximum ₹67,649/year
• Urban – Maximum ₹88,756/year
Q: Is it necessary to be a Punjab resident?
A: Yes, only domicile residents of Punjab are eligible.
Q: Is property-related documentation always required?
A: Yes, if you’re mortgaging property, documents like a valuation certificate, a map, and a registry are mandatory.
Q: Can I apply again if I am already receiving scheme benefits?
A: No, reapplication is not allowed for beneficiaries already availing this scheme.
Q: Are interest rates fixed?
A: No, banks charge interest as per the RBI’s latest guidelines.
Q: Where can I access the application forms?
A: Forms can be downloaded from the official PSCLDFC portal or obtained at District Offices.
References & Important Links
• Official Guidelines – PSCLDFC
• Loan Application Form – I
• Loan Application Form – II
NOTE: The Bank Tie-Up Scheme by PSCLDFC is a powerful welfare initiative aimed at empowering Scheduled Caste families below the poverty line in Punjab. With a simple application process, targeted financial assistance, and government-backed support, it offers a real opportunity for self-reliance and economic upliftment. Eligible residents should take advantage of this scheme to start or expand their livelihoods.
