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Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana

Details
Benefits
Eligibility
Application Process
Documents Required
Frequently Asked Questions
Sources And References
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Ministry Of Social Justice and Empowerment

Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana

Loan

OBC

SHG

Social Welfare

Details

The VISVAS (Vanchit Ikai Samooh aur Vargon ko Aarthik Sahayata) Scheme aims to provide interest subvention to OBC/SC Self Help Groups (SHGs) or individuals. It is being implemented by the Ministry of Social Justice and Empowerment.
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The objective of the scheme is to provide the direct benefit of a lower rate of interest to the eligible beneficiaries who have availed loans through Public Sector Banks (PSBs), Regional Rural Banks (RRBs) and similar financial institutions hereinafter referred to as Lending Institutions. 
﻿
In December 2020, the VISVAS scheme got a major boost after the National Backward Classes Finance & Development Corporation (NBCFDC) and National Scheduled Castes Finance and Development Corporation (NSFDC) signed a Memorandum of Agreement (MoA) with the Central Bank of India and Punjab National Bank, premier and leading Public Sector Banks.

Benefits

Salient FeaturesMaximum loan limit (for SHG): ₹ 4,00,000
Maximum loan limit (for individual): ₹ 2,00,000
Maximum Subvention Amount: @5% per annum
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Mode of payment of SubventionThrough Direct Transfer of Subvention Amount into operating account of SHG or Individual

Eligibility

Eligibility Criteria for Other Backward Classes (OBCs)1. Members of Backward Classes, as notified by Central Government/State Governments
All OBC Antyodaya Anna Yojana (AAY) cardholders, and OBC individuals facing three or more Deprivations in terms of SECC-2011, as per records available at the relevant BDO Office shall be eligible for Interest Subvention
All OBC beneficiaries involved in Agricultural activities and getting coverage under the PM KISAN
SHGs must be registered with NRLM/NULM/NABARD with more than two years of credit history
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Eligibility Criteria for Scheduled Castes (SCs):1. NSFDC recognized Self-Help Groups (SHGs) registered with NRLM/NULM and NABARD
The definition of Scheduled Castes includes all castes notified in the State and/or Central Government lists of SCs
Valid Annual Income Certificate issued by the competent authority of the State Government
AAY cardholders, and other individuals facing three or more Deprivations in terms of SECC-2011
All beneficiaries involved in Agricultural activities and getting coverage under the PM KISAN

Application Process

Offline

Step 1: Eligible applicant needs to visit the nearest SCA office, and apply on the prescribed form for VISVAS Scheme. You can find your nearest SCA office at this link - https://nsfdc.nic.in/channel-patrners/scas  
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Step 2: Enter the necessary details in the application form and mention the needs and choice of vocation and training requirements, if any.
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Step 3: Submit your application form and the required documents to the same SCA office. After reviewing the application, the loan will be sanctioned by SCA.

Documents Required

Proof of Identity (Aadhaar card)
Proof of membership in an SHG
Proof of registration of the SHG with NRLM/NULM/NABARD
Proof reg. Credit History of the SHG
Ration Card
Income Certificate (issued by the competent authority of the State Government)
Caste Certificate
Antyoday Anna Yojana (AAY) card (if applicable)
Proof of being a beneficiary of PM Kisan Scheme (if applicable)
Passport size Photograph of the applicant

Frequently Asked Questions

Q 1. Are SHGs That Are Availing Subsidy Under Any Other Scheme Eligible Under This Scheme?

Q 2. Are All SHGs Eligible For Interest Subvention Under VISVAS Scheme?

Q 3. What Are The Key Features Under The VISVAS Scheme?

Q 4. What Does VISVAS In The Scheme Stand For?

What is the Maximum Loan Limit for SHGs?

What Is The Maximum Loan Limit For individual?

What is the Maximum Subvention Amount for this scheme?

What shall be the Mode Of Payment Of the Subvention?

Sources And References

Guidelines

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Ministry Of Social Justice and Empowerment

Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana

Loan

OBC

SHG

Social Welfare

Details

Benefits

Eligibility

Application Process

Documents Required

Frequently Asked Questions

The VISVAS (Vanchit Ikai Samooh aur Vargon ko Aarthik Sahayata) Scheme aims to provide interest subvention to OBC/SC Self Help Groups (SHGs) or individuals. It is being implemented by the Ministry of Social Justice and Empowerment.
﻿
The objective of the scheme is to provide the direct benefit of a lower rate of interest to the eligible beneficiaries who have availed loans through Public Sector Banks (PSBs), Regional Rural Banks (RRBs) and similar financial institutions hereinafter referred to as Lending Institutions. 
﻿
In December 2020, the VISVAS scheme got a major boost after the National Backward Classes Finance & Development Corporation (NBCFDC) and National Scheduled Castes Finance and Development Corporation (NSFDC) signed a Memorandum of Agreement (MoA) with the Central Bank of India and Punjab National Bank, premier and leading Public Sector Banks.

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Ministry Of Social Justice and Empowerment

Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana

Details

Benefits

Eligibility

Application Process

Documents Required

Frequently Asked Questions

Sources And References

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Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana

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