AI SummaryTrade and Business Sector Scheme (HSFDC) provides financial support and loans to individuals from BPL families living in Haryana, helping them earn a living through self-employment activities like small shops or repair businesses.
Scheme has been closed or it was a one time scheme which has been closed by the government.
Trade and Business Sector Scheme (HSFDC) - Introduction
Trade and Business Sector Scheme (HSFDC) acts as a helping hand for people from BPL families by giving them the money support they need to start their own business. If you want to run a small venture such as a stationery shop, kiryana shop, cloth store, tea stall, auto repair workshop, or a beauty parlour, this scheme is made for you.
This scheme is run by the Haryana Scheduled Castes Finance And Development Corporation (HSFDC). This is a government-owned corporation set up in 1971 to help specific sections of society earn a steady income. Because the corporation works with many banks, you get organised support for your business journey.
Key Information
| Detail | Information |
|---|---|
| Scheme Name | Trade and Business Sector Scheme (HSFDC) |
| Level | State |
| Scheme For | Individual |
| Beneficiary State | Haryana |
| Category | Banking, Financial Services and Insurance, Business and Entrepreneurship |
| Benefit Type | Cash |
| Implementing Agency | Haryana Scheduled Castes Finance And Development Corporation |
Benefits
This scheme gives a solid money base for your business. You can get support through a mix of subsidy, margin money, and bank loans.
| Component | Benefit Detail |
|---|---|
| Project Cost Ceiling | Up to ₹1,50,000 |
| Subsidy | 50% of the project cost (Maximum ₹10,000) |
| Margin Money | 10% of the project cost at 4% annual interest |
Regarding the bank loan, the partner bank will provide the remaining balance needed for your project assets on your behalf. Interest on the main bank loan portion is charged as per the lending policies of that bank.
Recovery and Interest details
| Capital Limit (₹) | Interest (% P.A.) | Penal Interest (% P.A.) |
|---|---|---|
| 15,000 | 4 | 4 |
Your interest begins on the same day the loan is given out. The principal recovery starts after 360 days, while the interest recovery begins after 180 days. Installments begin after a 180-day grace period.
Eligibility
To apply for Trade and Business Sector Scheme (HSFDC), you should meet the following criteria:
- You should be a permanent resident of Haryana.
- You must belong to the Scheduled Caste category.
- You should belong to a Below Poverty Line (BPL) family.
- Your total annual family income should not exceed ₹1,80,000.
- Your name must appear in the official BPL survey list.
For example, if Ramesh, a resident of Haryana, belongs to a BPL family and wants to open a small tailoring shop, he becomes eligible provided his total family income is within the limit and he holds a valid Scheduled Caste certificate. Field staff will check your eligibility before your application is sent to the bank for final approval.
Application Process
Online Application Process
STEP 1 - Visit the official HSFDC website and select the option for 'Bank Tie-up Scheme'.
STEP 2 - Click on 'Apply for Loan' to start your registration.
STEP 3 - Provide your personal details, including your Aadhaar number, email, and mobile number.
STEP 4 - Complete the mobile OTP verification to proceed.
STEP 5 - Once the form opens, upload all required documents and enter your business details accurately.
STEP 6 - Submit the form to receive your login credentials.
STEP 7 - Use your credentials to log in later, fill in surety details, and complete the final submission to get your application reference number.
Offline Application Process
If you prefer an offline method, you can submit your loan application during credit camps, Open Darbars, or other official functions organised by your local Deputy Commissioner or Additional Deputy Commissioner.
Documents
Keep the following documents ready to make sure the application process goes smoothly:
- Aadhaar Card
- Recent passport-size photograph
- Ration Card
- Voter ID card or other valid identity proof
- Scheduled Caste Certificate
- BPL card or official BPL proof document
- Proof of annual family income
- Any other documents asked by the department
References
FAQ's
Who implements Trade and Business Sector Scheme?
The Haryana Scheduled Castes Finance and Development Corporation (HSFDC) implements this scheme in partnership with various banks.
What is the maximum project cost covered?
You can apply for projects with a total cost of up to ₹1,50,000.
Which activities are eligible for funding?
You can use the loan for viable income-generating activities like running a stationery shop, kiryana shop, cloth shop, tea shop, auto repair work, beauty parlour, or tent house services.
Is there a subsidy available?
Yes, you get a subsidy of 50% of the project cost, capped at a maximum amount of ₹10,000.
How does the margin money work?
The corporation provides 10% of the project cost as margin money, which carries a low interest rate of 4% per annum.
What is the annual income limit to be eligible?
Your total annual family income should not exceed ₹1,80,000.
How is the eligibility verified?
Before your loan is recommended to the bank, designated field staff will physically verify your eligibility and documentation.
Can I apply if I live in a city?
Yes, the scheme is open to eligible individuals living in both rural and urban areas of Haryana.