Dharamsot emphasizes easing of Loan Advancing process for Self Employment

Chandigarh, December 10, 2019 (Yes Punjab News)

The Social Justice, Empowerment and Minorities Minister, Punjab, Mr. Sadhu Singh Dharmsot has emphasized the easing of loan advancing process for enabling the youth belonging to the Backward Classes, Minorities and Scheduled Caste categories to start their own ventures.

In a meeting here today with the higher officers of the SC and BC Corporations, the minister also said that now, the committee formed at the District Level under the District Welfare Officer would be empowered to sanction various loans up to Rs. 1 lakh and departmental orders would be issued soon. He also directed the officers to frame proposal regarding waiving off the loans of those who are deceased.

The minister also appealed to the youth of the State to derive maximum advantage from the welfare schemes of the State Government with regard to the loans in order to start their own self employment ventures.

It is worth mentioning that as per the direct loan scheme, the BACKFINCO and SC Corporation provides loan ranging from Rs. 50,000 to Rs. 1 Lakh at an interest rate of 6 percent.

This loan can be availed to start ventures for e.g. Dairy Farming (3-5 Animals), Poultry Farming, Growing Vegetables, Honey Bee Keeping, Carpentry/Furniture/Blacksmith ventures, Flour Mill, Auto-Rickshaw (Passenger/Freight Carrying), General Store (Karyana/Cattle/Poultry Feed), Hardware Store (Sanitary and Building Material, Steel etc.), Textile/Readymade Garment Shop, Books/Stationery Shop, Photostat Machine, Tailoring, Agricultural Implements (Fabrication), Automobile repair/Spare parts shop, Electronics/Electrical Sale and Repair, Fabrication Unit, Photography and Videograhy, Hosiery Units, Small Scale Industrial Unit (Manufacturing any goods/material), Sweet Shop/Dhaba, Beauty Parlour and Pandal or Shamiana Service. It is necessary to fulfill main criteria of BACKFINCO and SC Corporation to avail the loans.

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