Q. With reference to PM SVANidhi Scheme, consider the following statements:
1.Those who repay their loans on time will get some percent of annual interest as subsidy in their bank accounts.
2.The Ministry of Finance is the nodal ministry for the scheme.
Which of the statements given above is/are correct?
Answer: A
Notes:
Statement 1 is correct: Under this scheme, each of the street vendors will be given a credit loan of Rs 10,000 which they can return as monthly installments within a year.
Those who repay their loans on time will get 7% annual interest as subsidy which will be transferred in their bank accounts.
Statement 2 is incorrect: Ministry of Housing & Urban Affairs is the nodal Ministry for the scheme.
Source: PIB
