In May 2018 and Common Service Centres CSC Special Purpose Vehicle SPV signed MoU for providing fina...........

Economic and Social Issues industrial and labour policy

In May 2018, ________________________ and Common Service Centres (CSC) Special Purpose Vehicle (SPV) signed MoU for providing financial support to VLEs of CSCs, with minimum one year of operation, under its Direct Financing Window.

Small Industries Development Bank of India (SIDBI)

The Federation of Indian Chambers of Commerce and Industry (FICCI)

Confederation of Indian Industry (CII)

RBI

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Explanation:

Through the MoU, both CSC SPV and SIDBI seek to work together to bring more citizens under ambit of financial inclusion. · Moreover, it will also aim to enhance financial viability of CSCs by including additional services in their bouquet of products. · Under Direct Financing Window, CSC SPV will approve list of VLEs, within 25 km distance of SIDBI Branch Offices, who require financial support. · To avail loan, VLEs need to submit their CSC project, with maximum project outlay of Rs. 3.50 lakh and term loan requirement not exceeding Rs. 2 lakh per project.