The upliftment of the poor happens not through charity, but empowerment. And while there seems to be enough work done in terms of earmarking relief funds for the poor, what will really come in handy for them is an opportunity to work and earn their means of livelihood.

“Give a man a fish, he won’t go hungry for a day. Teach a man to fish, he won’t go hungry for life.”

Bearing in mind the sentiment, the government of India has launched the PM Visvas yojana – a welfare scheme offered to the poor wherein interest subvention will be offered to Self Help groups with 100% OBC members and OBC individuals who have taken a loan for various income-generating activities. These may include loans from Lending institutions that have signed MoA with the NBCFDC.

Eligibility criteria for the PM Visvas Yojana 2021

In order to avail of the benefits of the PM Visvas yojana 2021, the following eligibility criteria need to be met:

Salient Features of the PM Visvas scheme

Mode of payment for the subvention under the PM Visvas Yojana

The ideal model is considered to be through Direct Transfer of Subvention amount into the operating account of SHG or individual.

List of documents needed to avail the PM Visvas scheme

Summing it up

Supporting small businesses is a necessary move, especially when a country like India intends to support the “Make in India” cause. By doing this, the central government encourages more small entrepreneurs to dream to make it big and by offering the necessary finances, it offers the platform for individuals or organisations to soar.

The scheme is a perfect solution to put India on the radar; at par with other developed nations where small entrepreneurs have as much a chance of making it big as big companies.