Govt policies, schemes in news Flashcards
PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)
special micro-credit facility/working capital - up to ₹10,000 to more than 50 lakh street vendors, businesses operational on or before 24 March 2020. scheme is valid until March 2022.
SIDBI -technical partner for implementation. manage credit guarantee to the lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises.
Repayable in monthly instalments within 1 year.
On timely/early repayment - interest subsidy of 7% per annum - through DBT on 6 months basis.
no penalty on early repayment of loan.
Eligibility:
vendors, hawkers, thelewalas, rehriwalas, theliphadwalas in different areas/contexts who supply goods and services. Street vendors belonging to the surrounding peri-urban/rural areas are also included.
Small industries development bank of India Sidbi
Independent financial institution aimed at aiding the growth and development of MSME’s. Statutory body set up under act of Indian Parliament 1919.
Functions
emerging as a single window to meet developmental and financial needs of MSMEs. Enhance wealth of shareholders through modern technology platform. Promotion and development of MSME sector. Principal institution for development promotion and MSME sector. Nodal/ implementing agency of government In relation to Ministry of MSME, Ministry of textiles, Ministry of commerce and industry, Ministry of food processing and industry et cetera.
