1.) Organization:  H.P. Minorities Finance & Development Corporation Shimla

(l) Office Address :- Block No. 38, 1st Floor, SDA Complex, Kasumpti Shimla-171009.
(ll) Function/duties :- To advance loans to poor sections of Minority Communities (Muslims, Sikhs,
Christians, Budhists, Jain & Parsis) having income level of double the poverty line upto Rs. 1,03,000/- & Rs. 81,000/- in Urban & Rural area.


 (I)  Policy decision are taken by the Board of Directors of the Corporation.
(II) Implementation of decision by the Managing Director of the Corporation.
(III) Other Officers/Officials works as per the direction of the MD. MD is the Chief Executive Officer who run the Corporation as per the Administrative/Financial powers delegated by the Board. The final disposal in financial and administrative field, lies in the domain of MD except in the cases which are required to be submitted to the Board.

(IV) Procedures :-
The procedures and guidelines are determined by the National apex Corporations i.e. NMDFC and NHFDC. The Field Assistants submits applications for grant of loan which are put to supervising officer i.e. Manager/Company Secretary who re

commends the grant of loan which are submitted to Manager who recommends the  grant of loan which are sanctioned by the Managing Director.

(V) Accountability :- 
The loans are advanced strictly as per the terms and conditions of National Apex Corporations and any officer/officials not adhering to these instructions are responsible for it.

4.) All the cases are processed as per the terms & conditions contained in the Loan Guideline Manuals.


(I) Rules :-
The HPMFDC has adopted rules and regulation of the State Govt. for governing the staff.

(ll) Instructions :-
The Corporation is following the instructions issued by State Govt. for governing the staff and other related issues from time to time and regarding disbursement of loans instructions of the National Apex Corporations are followed.

(III) Manuals :-
The Board of Directors has approved loan guideline manual which are being followed by the Corporation.

(IV) Records :-
All records pertaining to the establishment of staff, loaning to the beneficiaries are prepared and kept by the respective DA’s.
6.) The loan ledger in respect of individual beneficiary, Cash book, relevant files and Minutes books are being maintained. Minutes book of the Board of Director/Shareholders meetings and note sheets of the files are not accessible to the public.

7.) The representatives of the public are free to meet the Managing Director of the Co

rporation for the redressal of their grievances. Any suggestions made and deem fit are placed before the Board of Director’s for their approval.

8.) The Chairman preside over the meeting of the Board  of Directors and does not look after day to day works. Suggestions of the Board and also of the shareholders are implemented by the MD from time to time. As per requirement of the Companies Act, two meetings of the members of the Board nominated by the Govt. in a calendar year are mandatory to be held. The minutes of the decision taken in the meeting are drawn and circulated to its members only.

9.) At present there are 10 employees on the role of the Corporation and their monthly establishment pay bill comes to approximately Rs. 5.90 lakhs including the  Managing Director appointed by the Govt. from time to time.

10.) The Corporation is being paid equity by the Govt. to meet out its Administration Expenditure. There exists no other budgetary provision for the disbursement of loans to the people of the minority Communities and Persons with Disabilities.

11.) The financial assistance to uplift the resource base of the people of the Minority Communities and Persons with Disabilities as well is being provided as per the policy formulated by these apex Corporations at a concessional rate of interest.

12.) The Board of Directors of the Corporation is empowered to grant any concession depending upon the nature of the case as per loan guideline manual.

13.) All the procedure laid down for availing financial assistance from this Corporation and loan application forms are available on the website of this Corporations website i.e. http://hp.gov.in/minority Or http://hpsoma.gov.in/minority  

14.) The office of the Corporation is housed in 1st floor, Block no. 38, SDA complex, Kasumpti, Shimla-9 and all information pertaining to loan process, application forms along with other documents required are available in the office for public use.

15.) Contacts:

  1. Managing Director  :     Contact No. (O) 0177-2622164
  2. Manager :                     Contact No. (O) 0177-2622164
  3. Fax No.   :                     0177-2621669

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