Vanchit Ikai Samooh Aur Vargon Ko Aarthik Sahayata Yojana
5% interest subvention on loans · OBC/SC self-help groups · up to ₹4,00,000
The VISVAS scheme provides interest subvention of up to 5% per annum on loans taken by OBC and SC individuals or Self Help Groups (SHGs) from public sector banks and regional rural banks, making credit more affordable for weaker sections. Loans up to Rs 4 lakh for SHGs and Rs 2 lakh for individuals qualify. Apply offline at the nearest State Channelizing Agency (SCA) office — find yours at nsfdc.nic.in/channel-partners/scas.
About This Scheme
The VISVAS scheme provides interest subvention of up to 5% per annum on loans taken by OBC and SC individuals or Self Help Groups (SHGs) from public sector banks and regional rural banks, making credit more affordable for weaker sections. Loans up to Rs 4 lakh for SHGs and Rs 2 lakh for individuals qualify. Apply offline at the nearest State Channelizing Agency (SCA) office — find yours at nsfdc.nic.in/channel-partners/scas.
Full official description
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.
Benefits
- Interest subvention of 5% per annum on qualifying loans from Public Sector Banks or Regional Rural Banks
- Maximum loan eligible for subvention: Rs 4 lakh for SHGs; Rs 2 lakh for individuals
- Subvention amount transferred directly to the SHG or individual bank account
💡 Why Startups Should Care
OBC/SC SHGs with subsidised credit are actively investing in micro-enterprises — if your fintech or supply chain startup can partner with SCA offices to reach VISVAS beneficiaries, you're targeting a nationally scaled, government-backed lending programme with ₹4L+ loan ticket sizes.
Who Can Apply (Eligibility)
- For OBCs: Members of Backward Classes notified by Central/State Government; OBC Antyodaya Anna Yojana (AAY) cardholders; OBC individuals with 3+ deprivations per SECC-2011; OBC PM KISAN beneficiaries; OR SHGs registered with NRLM/NULM/NABARD with more than 2 years of credit history
- For SCs: NSFDC-recognized SHGs registered with NRLM/NULM or NABARD; SC individuals with a valid annual income certificate; AAY cardholders; SC PM KISAN beneficiaries
How to Apply
- Find your nearest State Channelising Agency (SCA) office at nsfdc.nic.in/channel-partners/scas.
- Visit the SCA office and apply on the prescribed form for the VISVAS Scheme.
- Enter all necessary details and attach required documents.
- The SCA processes your application and forwards it to NSFDC for sanction.
- Approved subvention is transferred directly to the SHG's or individual's operating bank account.
Frequently Asked Questions
Q 1. Are SHGs That Are Availing Subsidy Under Any Other Scheme Eligible Under This Scheme?
Ans. No, the Self Help Groups availing interest subvention under this scheme are not eligible for interest subversion under any other scheme.
Q 2. Are All SHGs Eligible For Interest Subvention Under VISVAS Scheme?
Ans. Only SHGs with 100% SC/OBC members with Standard Accounts are eligible to benefit under this interest subvention scheme.
Q 3. What Are The Key Features Under The VISVAS Scheme?
Ans. All SC/OBC individuals and Self Help Groups with annual family income up to Rs. 3.00 Lakh will be eligible for interest subvention @ 5% on loans up to Rs lakhs.
Q 4. What Does VISVAS In The Scheme Stand For?
Ans. VISVAS in the scheme name stands for Vanchit Ikai Samooh aur Vargon ko Aarthik Sahayata.
What is the Maximum Loan Limit for SHGs?
The Maximum loan limit for SHGs is [?] 4,00,000
What Is The Maximum Loan Limit For individual?
The Maximum Loan Limit For an Individual Is [?] 2,00,000
What is the Maximum Subvention Amount for this scheme?
The Maximum Subvention Amount For This Scheme is @5% P.A.
What shall be the Mode Of Payment Of the Subvention?
The Mode of payment of the Subvention shall be Through Direct Transfer of Subvention Amount into operating account of SHG or Individual.
Ready to apply?
Visit the official government portal to apply for this scheme.
Apply on myScheme.gov.inDocuments Required
- Aadhaar card (identity proof)
- Proof of SHG membership
- Proof of SHG registration with NRLM/NULM/NABARD
- SHG credit history documents
- Ration card
- Income certificate
- Bank account details for Direct Benefit Transfer