Multiple Choice Questions

Consider the following statements with reference to the PM SVANidhi scheme It is a Special Micro Cre...........

Economic and social issues (RBI) Social Justice and disadvantaged

Consider the following statements with reference to the PM SVANidhi scheme

It is a Special Micro-Credit Facility for Street Vendors launched by the Ministry of Micro Small and Medium Enterprises, Government of India.
The scheme will be implemented by the Small Industries Development Bank of India (SIDBI).

Select the correct statement.

1 only

2 only

Both

None

About PM SVANidhi

It is a Special Micro-Credit Facility for Street Vendors launched by the Ministry of Housing and Urban Affairs.
It will provide affordable Working Capital loans to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.
This scheme targets to benefit over 50 lakh Street Vendors.
Under the Scheme, the vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year.
On timely/early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis.
Implemented by: SIDBI will implement the PM SVANidhi Scheme under the guidance of MoHUA.

Hence only statement 2nd is correct.

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