The Punjab Scheduled Castes Land Development & Finance Corporation (PSCLDFC) has introduced the “Direct Lending Scheme” to provide financial assistance for the economic upliftment of marginalized communities in Punjab. This 100% state-sponsored initiative targets individuals from the Scheduled Caste (SC) category and Persons with Disabilities (PwD), enabling them to secure loans for various income-generating activities. By offering affordable interest rates and subsidies, the scheme aims to foster self-reliance and improve the socio-economic status of beneficiaries.

Objective of PSCLDFC DLS Loan

The primary objective of the “Direct Lending Scheme” is to empower economically disadvantaged individuals from the SC community and Persons with Disabilities by providing direct loans for;

1. Land purchase.
2. Starting small businesses or self-employment ventures.
3. Other income-generating activities.

The scheme seeks to reduce poverty, promote entrepreneurship, and ensure equitable access to financial resources for marginalized groups.

Key Benefits of the Scheme

1. Loan Amount and Subsidy:
   • Beneficiaries are eligible for a subsidy of 50% of the loan amount or ₹10,000, whichever is less, as special Central Assistance.
   • The loan amount varies based on the project type and repayment capacity.
2. Repayment Period:
   • Repayment terms are flexible and vary according to the project type.
   • For land purchase cases, the maximum repayment period is 15 years, with monthly, bimonthly, quarterly, or half-yearly installments.
3. Affordable Interest Rates:
   • Loans up to ₹50,000 carry an interest rate of 5% per annum.
   • Loans above ₹50,000 carry an interest rate of 8% per annum.
4. Penal Interest:
   • A penal interest of 5% is charged for delayed payments, non-repayment, or violation of loan terms and conditions.
5. Funding Source:
   • The scheme is fully funded by the Government of Punjab through share capital funds.

Eligibility Criteria

To qualify for the benefits under this scheme, applicants must meet the following conditions;

1. Citizenship: The applicant must be a citizen of India.
2. Residency: The applicant must be a permanent resident of Punjab.
3. Category:
   • The applicant must belong to the Scheduled Caste (SC) category or be a Person with Disability (PwD).
4. Income Limit:
   • The annual family income should not exceed ₹1,00,000.
   • If the applicant is unemployed and intends to start their own business, family income may not be considered.
5. Age: The applicant’s age must be between 18 to 55 years.
6. BPL Status: The applicant must belong to the Below Poverty Line (BPL) category.
7. Exclusivity: The applicant should not already be availing benefits under this scheme.

Note: Only one member per family can benefit from this scheme (“One Family, One Benefit”).

How to Apply – Offline Process

The application process for the scheme is entirely offline. Here’s how you can apply;

1. Download/Collect Application Form:
   • Visit the official website of PSCLDFC or collect the application form (Form I and Form II) free of cost from the nearest District Office.
2. Fill the Application Form:
   • Fill in all mandatory fields, paste a passport-sized photograph (signed across), and attach self-attested copies of required documents.
3. Submit the Application:
   • Submit the duly filled and signed application form along with supporting documents to the District Office.
4. Obtain Acknowledgment:
   • Obtain a receipt or acknowledgment for the successful submission of your application.

Post-Application Processes:

1. Applications are referred to a screening committee chaired by the Additional Deputy Commissioner (ADC) for scrutiny.
2. After approval, cases are sent to the Head Office for sanction and then forwarded to District Offices for the execution of the Mortgage Deed.
3. Loan amounts are disbursed directly into the beneficiary’s bank account via RTGS after completing all formalities.

Necessary Documents for Application

To ensure smooth processing of your application, make sure you have the following documents ready;

• Duly attested application form (Form I and Form II).
• Residential/Domicile Certificate of Punjab.
• Caste Certificate (for SC applicants) or Disability Certificate (for PwD applicants).
• Valuation Certificate of the property to be mortgaged.
• Map of the property.
• Farad Zama Bandi (if applicable).
• Copy of the registry (if the property is self-purchased).
• Affidavit regarding the loan.
• 3 passport-sized photographs (signed across).
• Employer Certificate, Salary Certificate, and Surety Bond (if applicable).
• Aadhaar Card.
• Bank account details (Bank Name, Branch Name, Address, IFSC Code).
• Proof of Age.
• Income Certificate.

Frequently Asked Questions (FAQs)

Q1. Are there any age-related criteria for this scheme?
A1. Yes, the applicant’s age must be between 18 to 55 years.

Q2. In what cases will the family income of the applicant not be taken into consideration?
A2. If the applicant is unemployed and intends to start their own business, family income may not be considered.

Q3. Is it mandatory for the applicant to be a Person with Disability (PwD) to be eligible?
A3. No, applicants can belong to either the Scheduled Caste (SC) category or be a Person with Disability (PwD).

Q4. What shall be the amount of the loan?
A4. The loan amount varies based on the project type and repayment capacity.

Q5. What would be the sources of funds?
A5. The scheme is fully funded by the Government of Punjab through share capital funds.

Q6. Will the repayment period vary with the kind of project?
A6. Yes, repayment terms vary based on the project type, with a maximum period of 15 years for land purchase cases.

Q7. How much shall be the rate of interest on the loan?
A7. Loans up to ₹50,000 carry an interest rate of 5%, and loans above ₹50,000 carry an interest rate of 8%.

Q8. Will there be a penal interest in the case of delayed payment/non-repayment/violation of terms and conditions?
A8. Yes, a penal interest of 5% is charged for such cases.

Q9. Where can I find the link to the scheme guidelines?
A9. Guidelines are available on the official PSCLDFC website.

Q10. Where can I find the link to the loan application form?
A10. Forms are available on the official PSCLDFC website or at District Offices.

Q11. What is the maximum amount of financial assistance one can receive through this scheme?
A11. The subsidy is capped at 50% of the loan amount or ₹10,000, whichever is less.

Q12. Is the residential/domicile certificate of Punjab a mandatory document?
A12. Yes, it is mandatory.

Q13. Is there any application fee?
A13. No, there is no application fee.

Q14. Does this scheme accept online applications?
A20. No, applications must be submitted offline.

Q15. Is this scheme a “One Family, One Benefit” scheme?
A21. Yes, only one member per family can benefit.

Scheme Details & Guidelines

The “Direct Lending Scheme” by PSCLDFC is a transformative initiative aimed at uplifting economically disadvantaged individuals from the Scheduled Caste community and Persons with Disabilities in Punjab. By providing affordable loans and subsidies, the scheme empowers beneficiaries to achieve self-reliance and improve their quality of life. If you’re an eligible applicant seeking financial support for land purchase or income-generating activities, don’t miss out on this opportunity.