Central schemes in UP encourage Backward Class entrepreneurs: UP Minister Narendra Kashyap

In Uttar Pradesh, central schemes like the PM SVANidhi Yojana, Vishwakarma Yojana, along with the banking system made more accessible, are playing a crucial role in doing away with the need for loans by the National Backward Classes Finance and Development Corporation (NBCFDC) which saw low recoveries, to encourage entrepreneurship among the backward classes, UP minister for backward classes welfare Narendra Kashyap has said.

The NBCFDC provides loans of a maximum ₹15 lakh to members of the backward classes community to assist them in building income-generating opportunities through self-employment.

In the winter session of the UP assembly, Kashyap informed that the central body has "stopped" giving loans to the UP Backward Classes Finance and Development Corporation since 2012-13 for disbursal which is why the state body has also not been able to provide the loans.