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NBCFDC and NSFDC signs MoA with Central Bank of India

Published on December 10, 2020
Current Context: The National Backward Classes Finance & Development Corporation (NBCFDC) and National Scheduled Castes Finance and Development Corporation (NSFDC) has
NBCFDC and NSFDC signs MoA with Central Bank of India
signed Memorandum of Agreements (MoAs) with Central Bank of India. 
  • The MoA is signed for the implementation of Vanchit Ikai Samooh aur Vargon ki Aarthik Sahayta (VISVAS) Yojana. The VISVAS is an Interest subvention Scheme of Ministry of Social Justice & Empowerment, GOI.
  • Under this agreement, Central Bank of India will be providing the Interest subvention to the holders under VISVAS Yojana.
  • VISVAS Yojana: It was launched in September 2020 by Ministry of Social Justice & Empowerment, GOI to reduce the interest burden on underprivileged sections of SCs and OBCs. 
  • This scheme will benefit OBC/SC SHGs with loans up to Rs.4 Lakh and OBC/SC individuals with a loan up to Rs.2 Lakh with a quick interest subvention benefit of 5% directly into the standard accounts of borrowing SHGs/beneficiaries.
  • Static Part: 
    • Union Minister of Social Justice & Empowerment: Thaawar Chand Gehlot
    • HQ of Central Bank of India: Mumbai
    • Tagline of Central Bank of India: Build a better life around us

Question: 

Q.1 The National Backward Classes Finance & Development Corporation (NBCFDC) and National Scheduled Castes Finance and Development Corporation (NSFDC) signed MoA with which bank for the purpose of VISVAS Yojana?
a. City Union Bank
b. Central Bank of India
c. Corporation Bank
d. Dena Bank
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