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The H.P. Minorities Finance & Development Corporation (HPMFDC) was registered under Section 25 of the Companies Act, 1956 (not for profit) on 23-09-1996 and was declared State Channeling Agency (SCA) for National Minorities Finance & Development Corporation, New Delhi (NMFDC) with the objective to give social, economic and educational up-liftment to the people of Minorities below double the poverty line in H.P. by providing financial assistance/loans to them for setting up of self employment ventures of income generating activities  and education loan for acquiring professional/technical education and job oriented degrees in India and abroad as well, as per NMDFC guidelines and schemes.  Similarly, the Corporation was also declared State Channeling Agency (SCA)  for National Handicapped Finance & Development Corporation, Faridabad (NHFDC) on 20-01-1999 for  providing them financial assistance/ loan for setting up  of self employment ventures of income generating activities and education loan for acquiring professional/technical education and job oriented degrees in India and abroad as well.