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SSC Selection Post 2024 PYQ — Question 34

SSC Selection Post - Matriculation Level - 20 June 2024 - Shift 4 • General Awareness • Q34

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In April 2022, the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was extended till December _______.

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Correct answer: B

Explanation

The correct answer is option 2 i.e. 2024.

  • In April 2022, the Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was extended till December 2024.

  • The Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme was launched in June 2020 by the Ministry of Housing and Urban Affairs (MoHUA). Its primary objective is to provide affordable working capital loans to street vendors across urban India who were severely impacted by the COVID-19 lockdowns.

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    The extension of the PM SVANidhi scheme provides a continued lifeline to street vendors, allowing more individuals from the informal sector to benefit from financial support and economic recovery.

  • Under the scheme:
    • Street vendors can avail a collateral-free working capital loan of up to ₹10,000.
    • The loan is repayable in monthly installments over a period of 12 months.
    • Vendors who repay on time become eligible for a second loan of ₹20,000 and subsequently a third loan of ₹50,000.
    • The scheme also offers an interest subsidy of 7% per annum on timely or early repayment.
    • Digital transaction incentives such as cashback encourage the adoption of digital payments.