PIB News Update: Implementation of Interest subvention Scheme of Ministry of Social Justice & Empowerment, Government of India –Vanchit Ikai Samooh aur Vargon ki Aarthik Sahayta (VISVAS) Yojana for financial empowerment of economically marginalized OBC/SC SHGs & Individuals got a major boost with signing of Memorandum of Agreements (MoAs) by National Backward Classes Finance & Development Corporation (NBCFDC) and National Scheduled Castes Finance and Development Corporation (NSFDC) with Central Bank of India a premier and leading Public Sector Bank.
The scheme will benefit OBC/SC SHGs with loans/borrowings up to Rs.4.00 Lakh and OBC/SC individuals with loan/borrowing up to Rs.2.00 Lakh with a quick interest subvention benefit of 5% directly into the standard accounts of borrowing SHGs/beneficiaries.
MOA was signed by Shri V K Mahendru, Field General Manager, on behalf of Central Bank of India & Smt Anupama Sood, General Manager (Projects) on behalf of NBCFDC & Shri Devanand, Chief General Manager on behalf of NSFDC in the presence of Shri. K. Narayan, Managing Director NBCFDC /Chairman cum Managing Director NSFDC. The scheme is expected to benefit many entrepreneurs on a pan India basis.