PM SVANidhi scheme

Why in news?

• The Central government has launched a mobile app for street vendors to simplify the loan application process under the PM SVANidhi scheme.

About PM SVANidhi scheme:

• The scheme, PM Street Vendor's Atma Nirbhar Nidhi, is for providing affordable loans to street vendors.
• The vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments 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 six monthly basis.

PRACTICE QUESTION:

PM Swanidhi initiative is a program to help:

(a) Asha workers

(b) Women from SC/ST communities

 (c) Street vendors

(d) Slum dwellers in India

Answer