Correct option is A
The Correct Answer is: (A) 1 year
Explanation:
Under the PM-SVANidhi Scheme (2020), urban street vendors are eligible to avail a working capital loan of up to ₹10,000 for a period of 1 year.
Under the PM-SVANidhi Scheme (2020), urban street vendors are eligible to avail a working capital loan of up to ₹10,000 for a period of 1 year.
The scheme was launched by the Ministry of Housing and Urban Affairs to provide affordable credit to street vendors to help them rebuild their businesses that were impacted by the COVID-19 pandemic.
The loan can be used for working capital requirements such as purchasing goods and supplies to run their businesses.
Information Booster:
- The scheme allows street vendors to avail of a working capital loan of ₹10,000 with a repayment period of 1 year.
- The loan is interest-free for the first year and aims to promote the financial inclusion of street vendors.
- Vendors can repay the loan in monthly installments over the course of 12 months.
- The scheme is part of the government’s broader effort to provide economic relief to marginalized sectors.
- The scheme also encourages vendors to adopt digital payments through incentives and rewards.
English
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160 Marks
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