Backfinco Approves Key Reforms To Boost Welfare Of Backward Classes And Minorities In Punjab

Jun24,2026 | Jagrati Lahar Bureau | Chandigarh

The Punjab Government, under the leadership of Chief Minister Bhagwant Singh Mann, is continuously working for the welfare of every section of society. In line with this objective and under the directions of Dr. Baljit Kaur, Minister for Social Justice, Empowerment and Minorities, the 142nd meeting of the Board of Directors of the Punjab Backward Classes Land Development and Finance Corporation (BACKFINCO) was held under the chairmanship of BACKFINCO Chairman Mr. Sandeep Saini.

During the meeting, several important decisions were taken to ensure that the benefits of various welfare schemes being implemented by the Punjab Government reach the maximum number of deserving beneficiaries belonging to Backward Classes, Minority Communities, and Economically Weaker Sections in the state.

Providing further details, BACKFINCO Chairman Sandeep Saini stated that under the National Minorities Development (NMD) Scheme being implemented for minority communities (Sikhs, Muslims, Buddhists, and Parsis), the annual family income eligibility limit for beneficiaries has been enhanced. Under Credit Line-I, the income limit has been increased from ₹98,000 to ₹3 lakh per annum, while under Credit Line-II, it has been raised from ₹6 lakh to ₹8 lakh per annum.

He further informed that a new Small Business Scheme has been approved to encourage small entrepreneurs, and decisions have also been taken to simplify BACKFINCO’s loan disbursement system. These measures will provide greater opportunities for educated youth across Punjab to establish self-employment ventures and generate livelihoods.

Mr. Saini added that several other significant decisions were also taken during the meeting, keeping in view the interests of both the beneficiaries and the corporation.

The meeting was attended by BACKFINCO Vice Chairman Mr. Harjinder Singh Seechewal, Executive Director Mr. G.S. Sahota, IAS, Board Directors Mr. Jasvir Singh and Mr. Dinesh Kashyap, Assistant General Manager (Admin) Mr. Sukhwinder Singh, and other representatives of the Board of Directors.

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Backfinco-Approves-Key-Reforms-To-Boost-Welfare-Of-Backward-Classes-And-Minorities-In-Punjab