NBCFDC to Launch 'Visvas' Scheme for Empowering Marginalized Communities

The National Backward Classes Finance and Development Corporation is set to launch the 'Visvas' scheme next month, aiming to support 15 lakh marginalized individuals from the SC, OBC, and safai karamchari communities. The scheme provides a 5% interest subvention on loans, enhancing financial inclusion.

The National Backward Classes Finance and Development Corporation (NBCFDC) will start disbursing loans under the 'Visvas' scheme from next month, targeting 15 lakh beneficiaries from Scheduled Castes (SC), Other Backward Classes (OBC), and safai karamchari communities, as stated by a senior official.

The Visvas scheme, announced in the Union Budget, offers up to 5% interest subvention on loans and cash credit limits, specifically supporting SC, OBC, and safai karamcharis without an income cap for the latter. The initiative focuses on empowering marginalized groups by improving access to affordable credit.

NBCFDC Managing Director Rajan Sehgal highlighted the inclusive nature of the scheme and announced that beneficiaries will receive subsidies directly through the Direct Benefit Transfer (DBT) system. The corporation is also rolling out a National Fellowship for OBC students to assist in higher education with financial support for Ph.D. degrees.

(With inputs from agencies.)