WBMDFC Education Loan for Minority Students in West Bengal

WBMDFC Education Loan for Minority Students in West Bengal:

WBMDFC provides education loan to the students belonging to minority communities (i.e. Muslim, Christian, Buddhist, Sikh & Parsee) pursuing technical or professional courses at Under Graduate / Post Graduate level in an institution recognized by an appropriate authority. Education loan is also given for short term courses having high employment opportunities.

Muslim OBC Candidates may get the loan @Rs. 1.25 lakh per year subject to submission of OBC Certificate issued by the authority.

Eligibility Criteria for Education Loan:

◙ Annual family income of the applicant should be within Rs.40000/- in rural areas & Rs. 55000/- in urban areas.

◙ Applicant should belong to Minority communities (Muslim, Christian, Sikh, Buddhist and Parsee)

◙ Financial assistance will be given to pursue degree and/or post graduate level technical and professional courses (Like B.TECH, MBBS, MCA, MBA, NURSING, ETC) from a recognized institution or other short term professional courses with high employment opportunities.

◙ Students who get admission to a college to pursue technical/professional courses, on the basis of a competitive examination or marks not less than 50% at HS/Grad level will be given priority for the education loan.

◙ The applicant should be in the age group of 16-32 years of age.

Notice for Online Application of Education Loan is generally published from July to September every year.

Wiling students can apply online at www.wbmdfc.org / www.wbmdfc.net

For further details the applicants may contact this office on Phone No. (033) 4004-7469 or visit the office of WBMDFC at “AMBER” DD-27/E, Sector-1, Salt Lake City, Kolkata-700064.

Information taken from http://www.wbmdfc.net and www.wbmdfc.org

Self Employment Schemes for Minorities under WBMDFC

Self Employment Schemes under West Bengal Minorities Development & Finance Corporation (WBMDFC):-

Objective of the Schemes:

West Bengal Minorities Development & Finance Corporation (WBMDFC.) Offers loan facility to promising entrepreneurs belonging to the minority communities (Muslims, Christians, Buddhists, Sikhs, Persees) for their financial as well as social advancements.

Eligibility:

• Beneficiary must be a notified minorities i.e. Muslim, Christian Buddhist, Sikh and Parsee.

• The annual family income of the beneficiary must not exceed Rs 40000/- in rural areas and Rs 55000/- in urban areas.

• He should not be a defaulter in respect of loan taken previously from Banks/ Financial Institutions for similar purpose.

Term  loan  :

Term loan is given for project cost upto Rs. 1,00,000/- on any need based commercially viable scheme. For project cost above 1 lakh upto 5 lakh loan for any scheme can be subject to approval of National Minorities Development & Finance Corporation (NMDFC)

Margin Money Scheme   :

Project cost up to Rs. 5 lakhs is sanctioned by any commercial bank and willing to finance 60% of the project.
West Bengal Minorities Development & Finance Corporation (WBMDFC) may provide loan up to 25% of the project cost. However this assistance is subject to a maximum amount of 1.25 lakhs.
The rate of interest will be 4% on receiving requisition from the sanctioning bank. The recovery of the loan will also have to be proportionately shared.

Cluster Loan :

Loan upto Rs 25,000/- is given for any ongoing scheme and repayable in 23 monthly installments.

Micro Financing :

It provides financial assistance to augment income generating activities like small business, trade, tiny/cottage industry, service activity,artisan activity, agriculture or allied activity, transport sector activity. The scheme provides credit through NGOs. The NGOs may finance the beneficiaries directly or through Self Helf Group. Quantam of loan is upto Rs 6000/- per individual for short term (6 to 15 months) and Rs 10000/- for medium term (2 to 3 years).

How to apply :

When the corporation invites applications, the candidates may submit applications in the prescribed format to Panchayat Samity office and to Sub-Divisional office in rural and Municipal areas respectively. In Kolkata to the GM, DIC Kolkata. For further details, the corporate office of the WBMDFC. may be contacted at the following address:

West bengal minorities development & finance corporation
Bhabani Bhaban,
2nd floor (west) Alipore,
Kolkata-700027.
Phone- 2479-2998 / 2479-2893,
fax- 2479-2995.
E-mail – wbmdfc@wb.nic.in / wbmdfc@wbmdfc.org

For detail information visit http://employmentbankwb.gov.in/wbmdfc.php and http://www.wbmdfc.org/ or Click Here

Info Source- http://employmentbankwb.gov.in/wbmdfc.php and http://www.wbmdfc.org/