In the PM-SVANidhi Scheme (2020), the urban street vendors are eligible to avail a Working Capital Loan up to 10,000 with a tenure of:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 1 year.
Under the PM-SVANidhi Scheme launched in 2020, urban street vendors are eligible to avail a working capital loan of up to ₹10,000 with a tenure of 1 year. The scheme aims to provide affordable credit to street vendors whose livelihoods were adversely affected by the COVID-19 pandemic. Vendors can repay the loan in monthly instalments, and those who make timely repayments are eligible for a higher loan amount in subsequent cycles. Additionally, the scheme offers interest subsidies and promotes digital transactions to encourage financial inclusion and economic resilience among urban street vendors.