Kuala Lumpur: SME Bank has launched the Vanigham Financing Scheme (VFS), a dedicated initiative to assist Indian entrepreneurs in expanding their businesses and enhancing competitiveness. Deputy Minister of Entrepreneur Development and Cooperatives Datuk Seri R. Ramanan announced the scheme, which allocates RM50 million for the procurement of machinery, equipment, and commercial vehicles essential for business operations.

According to BERNAMA News Agency, the initiative was presented to Prime Minister Datuk Seri Anwar Ibrahim for approval and support. As a result, an additional one per cent subsidy on the profit rate was granted. The scheme offers financing ranging from RM100,000 to RM300,000. This was revealed during a press conference at Menara SME Bank by Ramanan, who was accompanied by Entrepreneur Development and Cooperatives Ministry secretary-general Datuk Seri Khairul Dzaimee Daud and SME Bank chief executive officer Datuk Dr Mohammad Hardee Ibrahim.

Ramanan stated that up to 250 registrations from Indian entrepreneurs are targeted under VFS. This target aligns with other schemes such as the Prosperity Empowerment and A New Normal for Indian Women (PENN) and the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i). The BRIEF-i programme’s RM50 million allocation has been fully utilised, with additional applications received, and the TEKUN Economic Fund has similarly seen increased applications.

For the VFS, the aim is to benefit 250 entrepreneurs by addressing their actual needs. Indian entrepreneurs interested in the scheme can apply from today until December 31, 2027, via www.smebank.com.my or by contacting 03-26037700.