26 June, 2020
2 Min Read
PM SVANidhi was launched by the Ministry of Housing and Urban Affairs, on June 01, 2020. Its objective is to provide affordable Working Capital loans to street vendors to resume their livelihoods that have been adversely affected due to the Covid-19 lockdown.
Under the Scheme, the vendors can avail of a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments over the tenure of one year. On timely/ early repayment of the loan, an interest subsidy @ 7% per annum will be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on a quarterly basis.
There will be no penalty for early repayment of the loan. SIDBI will implement the PM SVANidhi Scheme under the guidance of the Ministry of Housing & Urban Affairs (MoHUA). It will also manage the credit guarantee to the lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
India is now ranked 38th out of 139 nations in the Logistic Performance Index (LPI) 2023 of the World Bank. From its previous rankings of 44th in 2018 and 54th in 2014, this is a notable improvement. Earlier, the Logistics Ease Across Different States (LEADS) Report 2022 was published by the Ministry of Commerce and Industry. About Logi
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