In which year was the ‘Prime Minister Street Vendor’s AtmaNirbhar Nidhi’ (PM SVANidhi) scheme launched by the Government of India with the objective of providing an affordable working capital loan to street vendors to resume their livelihoods?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 2020.
The ‘Prime Minister Street Vendor’s AtmaNirbhar Nidhi’ (PM SVANidhi) scheme was launched by the Government of India in June 2020. It was introduced as part of the AtmaNirbhar Bharat Abhiyan to support street vendors affected by the COVID-19 pandemic. The scheme aims to provide affordable working capital loans of up to ₹10,000 to street vendors to help them resume their livelihoods. It also offers incentives for digital transactions and timely repayment. PM SVANidhi plays a crucial role in promoting financial inclusion, self-reliance, and economic resilience among urban street vendors across the country.