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 Development & Finance Corporation, New Delhi (NMDFC) 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 to socially backward and needy sections of the Minority communities for income generation activity, self- employment and for acquiring higher/professional education. Similarly, the Corporation was also declared SCA for National Handicapped Finance & Development Corporation, Faridabad (NHFDC) on 20-01-1999 for providing financial assistance to the persons with disabilties, for any income generation activity, self- employment and for acquiring higher/professional education, as per the guidelines and schemes of both the Apex Corporations.