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 Punjab National Bank, a premier and leading Public Sector Bank.
The scheme is expected to benefit many entrepreneurs and self help groups on a pan India basis. It 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 yesterday by Arun Kumar Sharma, General Manager, on behalf of Punjab National Bank & Smt. Anupama Sood, General Manager (Projects) on behalf of NBCFDC & Amit Bhatia, Assistant General Manager on behalf of NSFDC. The MoAs were exchanged in presence of K. Narayan, Managing Director NBCFDC & Chairman cum Managing Director NSFDC.