Ministry of Housing & Urban Affairs has signed a Memorandum of Understanding (MoU) with Small Industries Development Bank of India (SIDBI) for PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi). PM SVANidhi is a Special Micro-Credit Facility for Street Vendors.
According to the MoU, PM SVANidhi Scheme will be implemented by SIDBI under the guidance of MoHUA. The credit guarantee to the lending institutions would also be managed by the SIDBI through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
Click Here To Get Test Series For SBI PO 2020
Small Industries Development Bank of India (SIDBI) will ensure effective implementation of the scheme by providing a Project Management Unit (PMU) consisting of domain experts in training/ capacity building, project and platform management, banking, NBFC and MFI sectors etc for the period of scheme, i.e. upto March 2022. SIDBI will also leverage the network of lending Institutions for the Scheme implementation. The lending institutions will include Scheduled Commercials Banks (SCBs), Non-Bank Finance Companies (NBFCs), Regional Rural Banks (RRBs), Co-operative Banks, Small Finance Banks (SFBs), etc.
Important takeaways for all competitive exams:
World Oral Health Day is observed globally on March 20. This day observed to promote…
India has secured the hosting rights for the World Indoor Athletics Championships 2028. With this…
Did you know that India’s energy needs are growing rapidly with development and urbanization? From…
India has appointed diplomat Vikram Doraiswami as its new ambassador to China. He is 1992…
The prestigious Knighthood of the United Kingdom has been awarded to Tata Group Chairman N…
Did you know that sugar is one of the most commonly used ingredients in the…