To enable this, the government plans to use the PM Vishwakarma scheme as a template for other financial inclusion schemes as well, financial services secretary Vivek Joshi said. This will include digital identification; a three-stage selection process for beneficiaries at the village, district and state levels; and upgradation of skills. PM Vishwakarma imparts skills training to beneficiaries and then gives them loans.
"Skill will be an important component of financial inclusion schemes, and if beneficiaries do not upgrade their skills, they will not be entitled to collateral-free soft loans," Joshi said.
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