Q. Consider the following statements about PM SVANidhi Scheme:
1. It has been launched by the Ministry of Social Justice.
2. SIDBI has been appointed as the implementation agency for scheme administration..
Which of the statements given above is/are not correct?
Answer: A
Notes:
About PM SVANidhi Scheme:
PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs in 2020 as a Central Sector Scheme. Its purpose is to facilitate affordable working capital loans of up to ₹10,000 with an interest subsidy @7% on regular repayment. The street vendors are not required to pay any collateral for the loan. SIDBI has been appointed as the implementation agency for scheme administration. The scheme targets to cover 50 lakh street vendors, who had been vending on or before March 24, 2020.
Source: EPIC September 2021
