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Consider the following statements with reference to PM-SVANidhi scheme:
1. It is launched by the Ministry of Housing and Urban Affairs.
2. It aims to provide loans to artisans and craftspersons for their livelihoods.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements with reference to PM-SVANidhi scheme...
About PM SVANidhi Scheme:
  • The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) was launched on June 01, 2020 for providing affordable Working Capital loans to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.
  • Time duration: Initially It was until March 2022. After that it has been extended till December 2024.
  • Eligibility: The Scheme is available for beneficiaries belonging to only those States/UTs which have notified Rules and Scheme under Street Vendors (Protection of Livelihood and Regulation of Street Vending) Act, 2014.
  • Benefits: A micro credit scheme, facilitating a working capital collateral free loan of Rs. 10,000, with subsequent loans of Rs. 20,000 and 50,000 with 7% interest subsidy.
  • Implementation agency: Small Industries Development Bank of India (SIDBI).
  • Ministry: Ministry of Housing and Urban Affairs.
Under PM SVANidhi, significant achievements have already been made.
  • Till now, the scheme has extended more than 80.42 lakh loans to 60.94 lakh street vendors amounting to 10678 Crore rupees.
Hence option a is the correct answer.
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Consider the following statements with reference to PM-SVANidhi scheme:1. It is launched by the Ministry of Housing and Urban Affairs.2. It aims to provide loans to artisans and craftspersons for their livelihoods.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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