Vanchit Ikai Samooh Aur Vargon Ki Aarthik Sahayta (VISVAS) Yojana

Vanchit Ikai Samooh Aur Vargon Ki Aarthik Sahayta (VISVAS) Yojana

Part of: GS Prelims and GS-II – SCs and STs

In news

• Recently, National Backward Classes Finance & Development Corporation (NBCFDC) and National Scheduled Castes Finance and Development Corporation (NSFDC) entered in to MoA With Central Bank of India for implementation of Vanchit Ikai Samooh aur Vargon ki Aarthik Sahayta (VISVAS) Yojana.
• Ministry: Ministry of Social Justice & Empowerment

Key takeaways

• It is an Interest subvention Scheme for financial empowerment of economically marginalized OBC/SC Self Help Groups (SHGs) & Individuals.
• The scheme will benefit OBC/SC SHGs with loans up to Rs.4 Lakh and OBC/SC individuals with loan up to Rs.2 Lakh with a quick interest subvention benefit of 5% directly into the standard accounts of borrowing beneficiaries.