The Maharashtra State Other Backward Classes Finance and Development Corporation (महाराष्ट्र राज्य इतर मागासवर्गीय वित्त आणि विकास महामंडळ - MBOBCDC) serves the massive demographic of Other Backward Class (OBC) communities across the state.

From rural agro-service workshops and oil extraction mills to city pharmacy stores and engineering fabrication plants, the corporation helps OBC youth overcome the hurdle of steep bank interest rates.

1. The 12% Interest Refund Scheme (Up to ₹10 Lakh)

Under the flagship Individual Interest Subvention Scheme:

• The entrepreneur applies for a commercial business loan up to ₹10 Lakh from any scheduled commercial or cooperative bank.
• As long as the applicant repays the bank EMI promptly every month, the Corporation refunds the entire interest outgo up to 12% per annum directly to their savings account!
• The total interest reimbursement is capped at ₹3,00,000 over a maximum tenure of 5 years.

2. Group Interest Subvention (Up to ₹50 Lakh)

For Self-Help Groups (Bachat Gat) or Partnership / LLP firms formed by OBC youth:

• Total bank project loan eligible up to ₹50 Lakh.
• Cumulative interest refund capped at ₹15 Lakh over the 5-year loan lifespan.

3. Eligibility Criteria

1. Category: Must belong to the recognized Other Backward Classes (OBC) list of Maharashtra.
2. Caste & Non-Creamy Layer: Must produce a valid OBC Caste Certificate along with an active Non-Creamy Layer (NCL) certificate.
3. Age: 18 to 45 years.
4. Clean Credit Record: No existing active defaults with any financial institution.