The Direct Lending Scheme (DLS) in Punjab, administered by the Punjab Scheduled Castes Land Development & Finance Corporation (PSCLDFC), stands as a pivotal initiative aimed at uplifting the socio-economic status of Scheduled Castes (SCs) and Persons with Disabilities (PwDs) within the state. Launched as a 100% state-sponsored program, the scheme provides accessible financial support to individuals from these communities, facilitating their participation in economic activities and promoting self-reliance.
Key Features of the Direct Lending Scheme
Target Beneficiaries
The scheme specifically caters to:
- Scheduled Castes (SCs)
- Persons with Disabilities (PwDs)
Applicants must be permanent residents of Punjab, aged between 18 and 55 years. The program is designed to assist individuals from Below Poverty Line (BPL) households, with an annual family income not exceeding ₹1,00,000. Notably, unemployed applicants intending to start their own businesses may not be required to meet the income criterion.
Financial Assistance and Subsidy
The scheme offers:
- Loan Amount: Up to ₹50,000 at an interest rate of 5%; loans exceeding ₹50,000 are provided at an 8% interest rate.
- Subsidy: A special Central Assistance subsidy of 50% of the loan amount or ₹10,000 (whichever is less) is available.
- Repayment Terms: Flexible repayment options are provided, with periods varying based on the nature of the project. For land purchase cases, the maximum repayment period extends up to 15 years.
Eligibility Criteria
To qualify for the scheme, applicants must:
- Be citizens of India and permanent residents of Punjab.
- Belong to the SC or PwD category.
- Be aged between 18 and 55 years.
- Have an annual family income not exceeding ₹1,00,000, unless unemployed and planning to start a business.
- Not availing benefits from any other similar scheme.
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