Professional and Self Employment Scheme (HSFDC)

Professional and Self Employment Scheme (HSFDC)

The Professional and Self Employment Scheme, managed by the Haryana Scheduled Castes Finance and Development Corporation (HSFDC), aims to empower individuals from Below Poverty Line (BPL) families by providing essential financial support for self-employment ventures. This initiative is designed to facilitate self-employment opportunities in various professional sectors, including legal services, accounting, and healthcare.

About the Scheme

Launched by the Haryana Scheduled Castes Finance and Development Corporation (HSFDC), this scheme was established to aid individuals from BPL families whose annual financial income does not exceed ₹1,80,000. The HSFDC, founded on January 2, 1971, operates under the Companies Act of 1956 and is a government-owned entity, with 51% ownership held by the Haryana State Government and 49% by the Government of India. The scheme is available for both rural and urban residents, promoting self-employment in various fields such as law, chartered accountancy, medical services, and other professional pursuits.

Benefits of the Scheme

• Project Cost Ceiling: Financial assistance of up to ₹1,50,000.
• Subsidy: A subsidy of 50% of the total project cost, with a maximum subsidy amount of ₹10,000.
• Margin Money: The Corporation provides margin funding at 10% of the project cost, with an interest rate of 4% per annum.
• Bank Loan: In addition to the subsidy and margin money, banks will offer a composite loan covering the subsidy, margin money, and the remaining balance necessary for asset acquisition.

Interest Criteria for Loans

Loan Repayment Terms:

• Interest Commencement: Same Day
• Penalty Initiation: 180 Days
• Principal Recovery Start: 360 Days
• Installment Commencement: 180 Days
• Installment Duration: 180 Days

Eligibility Criteria

• The applicant must reside in Haryana.
• The applicant should belong to the Scheduled Caste category.
• The applicant must be from a Below Poverty Line (BPL) family.
• The annual family income of the applicant should not exceed ₹1,80,000 in both rural and urban settings.
• The applicant’s name must be listed in the BPL Survey List.

It is important to note that the eligibility of applicants is verified by field staff prior to forwarding the application to the bank for approval.

Application Process

Online Application

To apply for the scheme online, follow these steps:

1. Visit the official website of the Haryana Scheduled Castes Finance and Development Corporation.
2. Select the scheme option under ‘Bank Tie-up Scheme’.
3. Click on “Apply for Loan” to initiate the registration process.
4. Complete the registration form with your details, including your name, Aadhaar number, email, mobile number, and captcha code, then click “Register”.
5. Input the OTP received on your mobile and click “Submit”.
6. Fill in the application form that appears, uploading all necessary documents.
7. Finalize your application by clicking “Submit”, after which you will receive your user ID and password.

Login to Apply

1. Visit the official website and select the ‘Login’ option on the home page.
2. Enter your user ID/Username, password, and captcha code.
3. Click “Login” to access your dashboard.
4. Select “Edit Profile” to update your details and upload the required documents.
5. Click “Final Submit” to complete the process.
6. After submission, print your application for future reference.

Offline Application

The HSFDC also facilitates the collection and filling of loan applications during credit camps, Open Darbars, and other events conducted under the supervision of Deputy Commissioners or Additional Deputy Commissioners.

For more detailed information, please visit the official source: myScheme.gov.in.