๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      Question

      Which of the following Statements about PM SVANidhi

      Scheme is/are True? I- Ministry of Housing and Urban Affairs (MoHUA) has launched Pradhan Mantri Street Vendor's Atma Nirbhar Nidhi (PM SVANidhi). II- The loans would be hypothecated to the Street Vendorsโ€™ house or business cart. III- There will be no penalty on early repayment of loan.
      A Only I Correct Answer Incorrect Answer
      B Only II Correct Answer Incorrect Answer
      C I & II Correct Answer Incorrect Answer
      D I & III Correct Answer Incorrect Answer
      E all of the above Correct Answer Incorrect Answer

      Solution

      The vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments within a year. The loans would be without collateral. It is for the first time that Microfinance Institutions, Non-Banking Financial Company, Self Help Groups have been allowed in a scheme for the urban poor due to their ground level presence and proximity to the urban poor including the street vendors. There will be no penalty on early repayment of loan. Early repayment (or resettlement) is a clearance of debt or loan before the scheduled time. Many banks and lenders charge penalties for repaying loans early.

      Practice Next
      ask-question