Himachal Backward Classes Finance and Development Corporation introduces special loans for backward classes

The Himachal Backward Classes Finance and Development Corporation, Kangra has invited applications on prescribed form for availing educational loan facilities during the following academic session in various recognized educational institutions of the country. The forms were available free of cost in the Corporation Head Office at Kangra/ Offices of District Welfare Officers/ Tehsil Welfare Officers/ District Managers SC/ST Development Corporation and all the BDOs in the State.

An education loan scheme at a concessional rate of interest of 4% per annum for the students of backward classes for their professional degree courses like M.B.A,M.C.A or equivalent (approved by AICETE), degree courses conducted by IIIT, Hyderabad graduate programme in Engineering conducted by IIT and others institutions (approved by AICETE) or Medicine (including Ayurvedic, Homepathic, Unani), programmes conducted by colleges recognized by the Medical Council of India and diploma courses in Hospitality Management recognized by the National Council of Hotel Management etc. A loan up to 1, 25,000 per year to a maximum limit of 5,00,000 for four years can be availed, the condition being that the annual family income from all sources is below 55,000 in urban areas and 40,000 in rural areas.

An interest free study loan of 10,000 per annum with a maximum limit of 50,000 for full term graduate programmes, Ph.D, Computer Application/ MCA, MBA, LLB, M.Tech, M.E, PG. degree in Ayurvedic/ Unani System of Medicine, B.E, M.B.B.S, B. Architect, B.A.M.S, B.U.M.S, course in Town & Country Planning, Degree in Agriculture/ Horticulture/ Forestry, three year diploma courses like Nursing etc, one year Laboratory Technician course, two year Pharmacist course or equivalent, 18 months Multi-Purpose Health Worker/ M.P.W. course, H.F.W or equivalent course, one year Hotel Management/ Catering course, J.B.T, B.Ed. and Pilot Training course could be availed as well. This interest free loan can be availed by students whose annual family income is below 36,000.

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