New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    U nder the Vishwakarma scheme , c ollateral free credit

    can be provided up to ____________ , in the first tranche, to the artisans and craftspeople identified as Vishwakarma .
    A Rs.25,000 Correct Answer Incorrect Answer
    B Rs.50,000 Correct Answer Incorrect Answer
    C Rs.1,00,000 Correct Answer Incorrect Answer
    D Rs.2,00,000 Correct Answer Incorrect Answer
    E Rs.3,00,000 Correct Answer Incorrect Answer

    Solution

    The key features of the PM Vishwakarma scheme are:  

    • It is fully funded by the Union Government with a financial outlay of ₹13,000 crore for a period of five years (FY 2023-24 to FY 2027- 28).  
    • The Vishwakarmas are registered free of charge through Common Services Centres using a biometric-based PM Vishwakarma Portal.  
    • The artisans and craftspeople are provided recognition through a PM Vishwakarma Certificate and an ID Card.  
    • They receive collateral-free credit support of up to ₹1 lakh (first tranche) and ₹2 lakh (second tranche) ( i.e. up to Rs.3 lakh) with a concessional interest rate of 5%. The interest subvention by the Government of India will be to an extent of 8% and provided upfront to the banks.  
    • The scheme further provides craftsmen with methods of skill upgradation involving basic and advanced training, a toolkit incentive of ₹15,000 and incentives for digital transactions and marketing support.  

    Practice Next

    Relevant for Exams: