Question
Consider the following given statements and mark
the incorrect statement. i. PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs on June 01, 2020. ii. It provides an initial working capital of Rs 10,000 to each street vendor who got affected in COVID -19 lockdown. iii. It also provides a monthly cashback incentive to each vendor worth Rs 50 -100. iv. These loans are completely collateral free.Solution
It was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 for all the urban or rural vendors on or before March 24. 2020 will be eligible to apply for the loans. An initial working capital of Rs. 10,000 will be provided to the all the urban and rural vendors. The vendor shall be provided with an Interest Subsidy of 7%.
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