Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana

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.

Eligibility Criteria for Other Backward Classes (OBCs)

1. Members of Backward Classes, as notified by Central Government/State Governments
2. 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
3. All OBC beneficiaries involved in Agricultural activities and getting coverage under the PM KISAN
4. SHGs must be registered with NRLM/NULM/NABARD with more than two years of credit history
   

Eligibility Criteria for Scheduled Castes (SCs):

1. NSFDC recognized Self-Help Groups (SHGs) registered with NRLM/NULM and NABARD
2. The definition of Scheduled Castes includes all castes notified in the State and/or Central Government lists of SCs
3. Valid Annual Income Certificate issued by the competent authority of the State Government
4. AAY cardholders, and other individuals facing three or more Deprivations in terms of SECC-2011
5. All beneficiaries involved in Agricultural activities and getting coverage under the PM KISAN