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PM SVANidhi Scheme

August 2, 2023

GS Paper II Social Justice

Context:

  • The Union Housing and Urban Affairs Ministry has set a new target for its loan scheme for street vendors.

PM SVANidhi(Pradhan Mantri Street Vendors Atmanirbhar Nidhi) Scheme:

  • It was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.
  • The duration of the scheme has been extended till December 2024, with focus on enhanced collateral free affordable loan corpus and increased adoption of digital transactions.

Scheme Benefits:

  • Vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly installments in the tenure of one year.
  • On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly basis.
  • The scheme promotes digital transactions through cash back incentives up to an amount of Rs. 100 per month.
  • The vendors can avail the facility of escalation of the credit limit on timely/ early repayment of loan

News Source: Indian Express

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 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key
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UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
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