CHANDIGARH: Punjab Backward Classes Land Development and Finance Corporation (Backfinco) is running various welfare schemes such as Direct Loan Scheme at low-interest rates, NBC Scheme, and NMD Welfare Schemes. These initiatives aim to uplift the social and economic standards of individuals from backward classes, economically weaker sections, and minority communities in the state. Awareness camps will be organized to ensure these schemes reach the intended beneficiaries.
Chairman Sandeep Saini stated that under the efforts of Chief Minister Bhagwant Singh Mann and Minister for Social Justice, Empowerment, and Minorities Dr. Baljit Kaur, ₹2 crore as share capital was released on December 23, 2024, for the financial year 2024-25. Additionally, ₹25 crore was allocated during 2023-24 to restart the NMD Scheme. The Punjab Government also released ₹1 crore towards its share of margin money under this scheme on December 26, 2024.
Mr. Saini further informed that the Finance Department has exempted Backfinco from paying a 2% guarantee fee on ₹30 crore revolving guarantees for the NBCFDC scheme. These measures reflect the Punjab Government's commitment, under the leadership of Chief Minister Bhagwant Singh Mann, towards the welfare of backward classes.
Expressing gratitude to the Chief Minister and Cabinet Minister Dr. Baljit Kaur, Mr. Saini highlighted that the NMD Scheme and Direct Loan Scheme have resumed operations with the Punjab Government's support. To enhance the capabilities of loan beneficiaries, skill development training will also be provided, enabling them to pursue modern, skill-based ventures beyond traditional occupations.
Vice-Chairman Harjinder Singh Seechewal, Executive Director Sandeep Hans, and Assistant General Manager (Admn.) Amarjit Singh were also present on this occasion.