With reference to the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Yojana, consider the following statements: 1. It is a Central Sector scheme. 2. The scheme provides an initial working capital loan of up to Rs. 10,000 to eligible street vendors. 3. The Small Industries Development Bank of India (SIDBI) acts as the implementing agency for the scheme. 4. The scheme incentivizes digital transactions by offering cash-back benefits up to Rs. 500 per month. Which of the statements given above are correct? |ForumIAS

[A] 1, 2 and 3 only

[B] 1 and 3 only

[C] 2 and 4 only

[D] 1, 2, 3 and 4

Answer: A

Notes:

Explanation: 1, 2 and 3 only

The scheme was launched on 1st June 2020 by the Ministry of Housing and Urban Affairs (MoHUA) as a Central Sector Scheme.
It provides an initial working capital loan up to ₹10,000 with a repayment tenure of one year.
SIDBI is the implementing agency.
The scheme promotes digital transactions through cash-back incentives up to ₹100 per month, not Rs. 500.

Source: DD News