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With reference to PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, consider the following statements:
1. It is a Central Sector Scheme to facilitate street vendors' access to collateral-free capital loans.
2. It facilitates an initial working capital loan of up to 10 lakhs at a subsidized rate of interest.
3. Street vendors/ hawkers of both the urban and rural areas are covered under it.
Which of the statements given above is/are correct?
  • a)
    1 and 2 only
  • b)
    2 only
  • c)
    1 and 3 only
  • d)
    3 only
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANi...
1. Overview of PM SVANidhi scheme:
The PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is indeed a Central Sector Scheme aimed at providing street vendors with access to collateral-free capital loans to restart their businesses post the COVID-19 lockdown.

2. Correct Statements:
- 1 and 3 only:
- The first statement is correct as the scheme is designed to provide collateral-free working capital loans to street vendors.
- The third statement is also accurate as both urban and rural street vendors/hawkers are covered under the scheme.

3. Incorrect Statement:
- 2 only:
- The second statement is incorrect as the scheme provides an initial working capital loan of up to Rs. 10,000, not 10 lakhs, at a subsidized rate of interest.
Therefore, the correct answer is option 'C' (1 and 3 only). The scheme aims to support the livelihoods of street vendors by providing them with the necessary financial assistance to revive their businesses and become self-reliant.
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Community Answer
With reference to PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANi...
  • PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi):
    • A total of 42.7 lakh loans amounting to ₹5,152.37 crore had been disbursed to street vendors under the PM SVANidhi scheme
    • This is a Central Sector Scheme to facilitate street vendors to access affordable working capital loans for resuming their livelihood activities, after the easing of the lockdown. Hence, statement 1 is correct.
    • The COVID-19 pandemic and consequent lockdowns have adversely impacted the livelihoods of street vendors. They usually work with a small capital base, which they might have consumed during the lockdown. Therefore, credit for working capital to street vendors will be helpful to resume their livelihoods.
    • To facilitate an initial working capital loan of up to 10,000 at a subsidized rate of interest. Hence, statement 2 is not correct.
    • To incentivize regular repayment of loans; and o To reward digital transactions.
      • Initial working capital of up to `10,000/- rupees
      • Interest subsidy on timely/ early repayment@ 7%
      • Monthly cash-back incentive on digital transactions
      • Higher loan eligibility on timely repayment of the first loan. o Street vendors/ hawkers vending in urban areas, as on or before March 24, 2020, including the vendors of surrounding peri-urban and rural areas. Hence, statement 3 is correct.
    • No collateral security is required.
    • The interest subsidy amount will be credited directly to the beneficiary account on a quarterly basis. In case of early payment, the admissible amount of subsidy will be credited in one go.
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With reference to PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, consider the following statements:1. It is a Central Sector Scheme to facilitate street vendors access to collateral-free capital loans.2. It facilitates an initial working capital loan of up to 10 lakhs at a subsidized rate of interest.3. Street vendors/ hawkers of both the urban and rural areas are covered under it.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'C'. Can you explain this answer?
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With reference to PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, consider the following statements:1. It is a Central Sector Scheme to facilitate street vendors access to collateral-free capital loans.2. It facilitates an initial working capital loan of up to 10 lakhs at a subsidized rate of interest.3. Street vendors/ hawkers of both the urban and rural areas are covered under it.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, consider the following statements:1. It is a Central Sector Scheme to facilitate street vendors access to collateral-free capital loans.2. It facilitates an initial working capital loan of up to 10 lakhs at a subsidized rate of interest.3. Street vendors/ hawkers of both the urban and rural areas are covered under it.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, consider the following statements:1. It is a Central Sector Scheme to facilitate street vendors access to collateral-free capital loans.2. It facilitates an initial working capital loan of up to 10 lakhs at a subsidized rate of interest.3. Street vendors/ hawkers of both the urban and rural areas are covered under it.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'C'. Can you explain this answer?.
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