This article will fully guide you about VISVAS Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana. also read about the Benefits of the VISVAS Scheme, Eligibility, How To Apply For VISVAS Scheme and Documents and more at visvas.dosje.gov.in.
What is VISVAS Scheme
The aim of the VISHWAS scheme (Vanchit Ikai Samooh aur Vargon ko Aarthik Sahayata) is to provide interest subvention to lower communities like OBC/SC Self Help Groups (SHGs) or individuals. Vanchit Ikai Samooh aur Vargon ko Aarthik Sahayata scheme is being implemented by the Ministry of Social Justice and Empowerment.
The main objective of the VISHWAS scheme is to provide direct benefits of low-interest rates to the eligible beneficiaries who have availed loans through public sector banks (PSBs), regional rural banks (RRBs), and similar financial institutions, now known as lending institutions.
Highlights of the VISVAS Scheme 2023
|Organisation||Ministry of Social Justice and Empowerment|
|Scheme Name||VISVAS Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana|
|Applicable category||SC, OBC, SHGs|
|Applicable State/UT||All India|
|Period of scheme||The Yojana is valid for 2020-21|
VISVAS Yojana Scheme
The Ministry of Social Justice and Empowerment (MoSJ&E), Government of India, is implementing a new interest subvention-Vanchit Ikai Samooh aur Vargon ki Aarthik Sahayta (VISVAS) Yojana for the SHGs comprising exclusively of SC and/or OBC beneficiaries with loans or borrowings up to Rs. 4.00 lakh and for SC and OBC individual beneficiaries with loans or borrowings up to Rs. 2.00 lakh. This model will give a quick interest benefit to the standard accounts of borrowing SHGs or beneficiaries.
The main objective of the VISVAS scheme is to provide the direct benefit of the lower rate of interest to eligible Self Help Groups (SHGs) formed under the National Rural Livelihoods Mission (NRLM) or National Urban Livelihoods Mission (NULM) or NABARD or individual beneficiaries.
Loans have been availed through Public Sector Banks (PSBs), Regional Rural Banks (RRBs), and similar financial institutions, hereinafter referred to as lending Institutions.
|NSFDC for||SC SHGs/beneficiaries|
|NBCFDC for||OBC SHGs/beneficiaries|
Subvention payment mode
Through the use of Direct Subvention Amount Transfer into SHG or Individual Operating Account.
Benefits of the VISVAS Scheme
|Maximum loan limit (for SHG)||Rs. 4,00,000|
|Maximum loan limit (for individuals)||Rs. 2,00,000|
|Maximum Subvention Amount||@5% per annum|
Eligibility of VISVAS Scheme
Follow the Eligibility criteria of VISVAS Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana.
- Members of backward classes, as notified by the central government or state governments from time to time.
- The applicant’s family’s annual income should be less than Rs.3 lakh.
- SHGs must be registered with NRLM, NULM, or NABARD with more than two years of credit history.
- SHGs and individuals must have made all repayments on time to be eligible for interest subvention.
- e) All OBC Antoday 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 shall be eligible for coverage under the interest subvention.
Documents Required for VISVAS Scheme
The following documents are required to apply for the VISVAS scheme:
- Identity proof such as an Aadhaar card or voter ID
- Ration Card
- Caste Certificate
- Membership Proof in an SHG
- Registration of the SHG with NRLM/NULM/NABARD
- Proof reg. credit history of the SHG
- Income Certificate (issued by the competent authority of the state government)
- Antyoday Anna Yojana (AAY) card (if applicable)
- Proof of being a beneficiary of the PM Kisan Scheme (if applicable)
- Passport-size photograph
How To Apply For VISVAS Scheme?
Follow the three steps to apply for VISVAS Scheme:
- Every eligible applicant has to visit the nearest SCA office and apply for the Vishwas scheme on the prescribed form.
- You can find your nearest SCA office by visiting the following link: https://nsfdc.nic.in/channel-partners/scas
- Fill out the required details in the VISVAS application form and describe the needs, choice of vocation, and training requirements, if any.
- Once the application is filled out, submit the application form with the required documents to the same SCA office.
- The loan will be sanctioned by the SCA after reviewing the application.
What is full form of NSFDC?
National Scheduled Castes Finance and Development Corporation
What is full form of NBCFDC?
National Backward Classes Finance and Development Corporation
What is full form of VISVAS?
Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata