New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    Consider the following given statements and mark the incorrect statement.

    i. PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) was launched by the Ministry of Housing and Urban Affairs on June 01, 2020.

    ii. It provides an initial working capital of Rs 10,000 to each street vendor who got affected in COVID -19 lockdown.

    iii. It also provides a monthly cashback incentive to each vendor worth Rs 50 -100.

    iv. These loans are completely collateral free.

    A Only i is not true. Correct Answer Incorrect Answer
    B Both ii and iv are not true. Correct Answer Incorrect Answer
    C Only iv is not true Correct Answer Incorrect Answer
    D All are true Correct Answer Incorrect Answer
    E None is true Correct Answer Incorrect Answer

    Solution

    It was launched by the Ministry of Housing and Urban Affairs on June 01, 2020 for all the urban or rural vendors on or before March 24. 2020 will be eligible to apply for the loans. An initial working capital of Rs. 10,000 will be provided to the all the urban and rural vendors. The vendor shall be provided with an Interest Subsidy of 7%.

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