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Enhance coverage of scheduled castes in all schemes: FM Nirmala Sitharaman

The FM was chairing the performance review of PSBs on credit and other welfare schemes for scheduled castes

Nirmala Sitharaman | Finance Ministry | public sector banks

Nikesh Singh 

Union Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman

Minister on Tuesday advised (PSBs) to enhance the coverage of (SCs) in all schemes. She also called for looking into their needs for capacity building and entrepreneurship development.

She also asked to fill the remaining vacancies in a time-bound manner.

“There are improvements required to be carried out in all the schemes like the Credit Enhancement Guarantee Scheme for (CEGSSC) and Fund (VCF), among others. It may be taken up by the Department of Financial Services (DFS) after discussion with agencies like the Dalit Indian Chamber of Commerce and Industry (DICCI), which is working with at the grassroots level,” she added.

The FM was chairing the performance review of PSBs on credit and other welfare schemes for scheduled castes. Credit facilities to SCs and (STs) form a part of the priority-sector lending norms of the (RBI).

CEGSSC is an initiative by the ministry of social justice and empowerment with the objective to encourage and promote entrepreneurship. These are for scheduled castes, who are oriented towards innovations and supported by PSBs and financial institutions.

This, in turn, is set to create wealth, jobs, develop confidence and promote profitable businesses. VCF for SCs is dedicated to promoting entrepreneurship by providing concessional .

Maharashtra tops India’s list in the number of micro, small and medium enterprises (MSMEs) owned by entrepreneurs belonging to SCs. It has as many as 96,805 such enterprises.

The minister also said that PSBs must apprise the National Commission for Scheduled Castes twice every year — once around April and during October — on the progress made in recruitment and credit to SCs.

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First Published: Tue, September 27 2022. 21:58 IST