The National Backward Classes Finance and Development Corporation (NBCFDC) is set to disburse loans under the newly-launched "Visvas" scheme from next month, with an aim to help 15 lakh people belonging to the SC, OBC, and safai karamchari communities, a senior official said on Friday.

The Vanchit Ikai Samooh aur Vargon ki Aarthik Sahayata (Visvas) scheme offers an interest subvention of up to five per cent per annum on loans and cash credit limits to the eligible individuals and self-help groups (SHGs).

Speaking during a media interaction, NBCFDC Managing Director Rajan Sehgal emphasised the inclusive nature of the scheme, which offers financial support to the marginalised communities, with no income ceiling for safai karamcharis.

"The disbursal of loans will begin from next month," Sehgal said, adding that this year alone, the scheme aims to reach seven lakh beneficiaries, with the remaining eight lakh to be covered by next year.

According to Sehgal, the beneficiaries will receive subsidies directly into their accounts through the direct benefit transfer (DBT) system, ensuring a smooth and transparent process.

Announced in the Union Budget this year, the Visvas scheme offers concessional financial assistance for income-generating activities, focusing on empowering the marginalised groups by improving access to affordable credit.

Individuals from Schedule Caste (SC) and Other Backward Class (OBC) communities with an annual family income of up to Rs 3 lakh will be eligible to apply for the scheme, while safai karamcharis are exempt from any income cap.

The scheme will be implemented through the financial development corporations (FDCs) and lending institutions, the official said.

Sharing further details, Sehgal said the loans will carry a 5 per cent interest rate with a minimum duration of five years.

He also highlighted the scheme's convergence with other national programmes, including MUDRA loans and the National Rural Livelihood Mission (NRLM), to provide a holistic financial support system for the underprivileged communities.

The NBCFDC is also rolling out the National Fellowship for OBC (NFOBC) students, which will provide financial assistance for higher education.

"The fellowship will support students in obtaining Ph.D degrees by providing Rs 37,000 per month for the first two years and Rs 42,000 per month for the remaining tenure," Sehgal said.