What does VAMBAY mean in REGIONAL
Valmiki Ambedkar Awas Yojana (VAMBAY) is a program to provide affordable housing for people from economically weaker sections of Indian society. It was launched in 2016 by the Ministry of Social Justice and Empowerment, Government of India. The scheme provides financial assistance for construction or renovation of houses for those belonging to Scheduled Castes and Scheduled Tribes.
VAMBAY meaning in Regional in Regional
VAMBAY mostly used in an acronym Regional in Category Regional that means Valmiki Ambedkar Awas Yojana
Shorthand: VAMBAY,
Full Form: Valmiki Ambedkar Awas Yojana
For more information of "Valmiki Ambedkar Awas Yojana", see the section below.
Essential Questions and Answers on Valmiki Ambedkar Awas Yojana in "REGIONAL»REGIONAL"
What is VAMBAY?
VAMBAY stands for Valmiki Ambedkar Awas Yojana. It is a program to provide affordable housing to people from economically weaker sections of Indian society.
Who is eligible to avail the scheme?
The scheme is open to members of the Scheduled castes and Scheduled Tribes communities who are living below the poverty line.
How much financial assistance is provided by the scheme?
The central government provides an interest free loan up to Rs 2 lakhs for construction or renovation of houses under VAMBAY.
How does one apply for this scheme?
Interested applicants can submit their application form to the state government, along with relevant documents such as income certificate, caste certificate, ownership documents etc.
What is the repayment period under VAMBAY?
The loan repayment period begins after a grace period of 10 years. This period varies between 15-20 years, depending upon the type of loan availed and other circumstances.
Final Words:
Valmiki Ambedkar Awas Yojana (VAMBAY) is an important initiative by Government of India aimed at providing adequate housing facilities to individuals belonging to Scheduled castes and Scheduled tribes communities with limited economic means. Beneficiaries can avail interest free loans upto Rs 2 lakhs under this scheme, with flexible loan repayment plans ranging between 15-20 years after a grace period of 10 years. Lastly, interested applicants can submit their application form along with relevant documents such as income certificate, caste certificate etc., to receive benefits under this scheme.