Question
Consider the following statements. Â 1) The PM SVANidhi scheme is a credit facility that provides street vendors a collateral-free loan of Rs 10, 000 with low rates of interest for a period of one year. 2) Ministry of Housing & Urban Affairs has launched the scheme 3) Small Industries Development Bank of India (SIDB
- I is the implementing agency for the scheme. Â Which of the above statements is/are correct?
Solution
Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment. The scheme intends to facilitate collateral free working capital loans of up to INR 10,000/- of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas. Small Industries Development Bank of India (SIDBI) is the implementing agency. Â
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